SPECIAL NOTICE TO NASE MEMBERS USING THE NASE HRA 105 PROGRAM
This is an important notice to all NASE members concerning the HRA 105 plan documents. Please read this notice in its entirety.
Due to the Affordable Care Act (Obamacare), effective January 1, 2014 the NASE HRA 105 program and related documents will ONLY be applicable for HRA plans that have one (1) participant.
If you have two (2) or more participants in your HRA plan you may no longer be able to continue the plan without significant changes to your HRA and the way that it is administrated. While the NASE works diligently to provide benefits to all our members, it is not possible for us to provide the HRA benefit for multiple participant plans under the current Affordable Care Act obligations.
At the current time, HRA plans with only one (1) participant are exempt from the ACA and therefore can continue with their existing plan with some modification. We are currently working on making the necessary updates to the NASE HRA program and you will receive future notices concerning these changes.
While the NASE will not be able to provide HRA plans for those with two (2) or more participants there are third party administrators that you can contact for information on administrating your plan.
To find these administrators do an online search for HRA 105. Due to the many changing factors involved with Obamacare and the affect new determinations might have on the validity of how an HRA 105 applies to your business, we suggest that you shop several providers.
If you have any questions concerning this notice or your plan, please contact the NASE business consultants at 1-888-650-6273.
HRA 105 Plans for NASE Members with One (1) Participant:
If your health insurance provider told you that they would offer you a 30% discount on all your medical expenses in exchange for doing a little record keeping, wouldn't you jump at the chance to find out more information?
That is just what a Health Reimbursement Arrangement (HRA) Plan might be able to do for you by converting your after-tax medical costs from a personal tax deduction to a business deduction. An HRA Plan under your business can save you from a few hundred to several thousand dollars in tax savings - potentially putting cold, hard cash right in your pocket!
As an NASE Member you have free access to all the forms and documents necessary to establish an HRA Plan supported by a team of professionals who can answer your questions and guide you every step of the way. If you already have an HRA Plan with a third-party administrator that charges you annual fees, the transition to using the free NASE program is simple and seamless.
While every business entity qualifies to establish an HRA plan, only employees as defined by IRS rules qualify to participate. To determine if you personally can participate in the benefits that an HRA plan offers, click the button below to review the NASE HRA eligibility quiz.
How much can you save by establishing an HRA Plan? That will depend on the tax structure of your business and just how much your annual medical expenditures are. For an estimate of just how much you can save through and HRA Plan, click on the calculator button below, enter some basic information and get an estimate of how much your tax savings might be.
If you are already an NASE Member, click the button below to begin setting up your HRA Plan.
If you are not an NASE Member and want to find out how easy it is to begin taking advantage of the tax savings an HRA Plan can provide along with the extensive other NASE benefits click on the membership button below.
The examples and amounts of potential savings are of a general nature and may not apply to your particular situation. For specific tax advice, please consult your tax professional.