Reports and Surveys | June 4, 2020

The Difference Between an HRA and HSA: Multiemployer Plans

As a sponsor of a multiemployer health plan, you're constantly thinking about how to provide participants with the best healthcare possible while also maintaining financial solvency. Two of your most useful tools in that regard are health reimbursement arrangements (HRAs) and health savings accounts (HSAs). But depending on your specific plan, one of these options may give you a greater benefit than the other, meaning you need to choose wisely.

Our chart comparing the key elements of an HRA and HSA — such as annual maximum contributions (including the new 2021 maximum for HSAs), payable medical expenses and more — will help you make the right call. 

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This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.

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