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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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HRA plan information

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: We are a start-up company in Texas with 4 employees but we expect to grow to 40-50 within the next year. Where can we get more information on a Health Reimbursement Account plan that will be suitable for us?

A: Results of a recent survey by Met Life shows that only 39% of employees are satisfied with their benefits and that the percentage is even lower (28%) for employees of small companies like yours. This is hardly useful as a recruiting tool. Using an HRA plan design in combination with good communications about employee benefit plans is considered to be the most cost-effective way to address this issue. Satisfaction should be stronger and this attractive health plan might then be a good tool for recruiting employees. Freedom Benefits ( offers a free HRA proposal on request that outlines many of the important considerations.


More resources:

Freedom Benefits HRA plan for small businesses