Health Reimbursement Accounts, (HRAs) are IRS-sanctioned arrangements that allow an employer to reimburse employee's medical expenses.  Reimbursements of qualified expenses are tax-deductible for the employer and are tax free (not included in W2 earnings) for the employee.

 

Eligible employees of this Paysmart program will receive personalized prepaid MasterCard^® cards to use for paying healthcare expenses and voluntary benefits.  Our Prepaid Healthcare card allows small employers to decide what amount will be loaded onto each card.  Employers may then reload cards with any value at any time- usually one time pre month.

 

Our Prepaid Healthcare MasterCard^® cards are restricted to health care services such as medical, dental, or vision care, or everyday over-the-counter products. The Prepaid Healthcare MasterCard^® cards DO NOT provide access to cash.

 

There are no hidden fees and reimbursements of qualified expenses are tax-deductible for the employer!  The Prepaid Healthcare's HRA meets all IRS, ERISA, HIPAA and COBRA regulations and guidelines.