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Three plan design enhancements for our EBC HRA, give employers more flexibility and choice when designing their plan. They’re all part of what we call our Enhanced EBC HRA.
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You can read the full details in our Enhanced EBC HRA Flyer, available now in PDF format. |
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| The Post Employment Benefit plan design allows participants to use all or a portion of their remaining EBC HRA balance after their employment ends, they cancel their health coverage or they lose plan eligibility. |
Employers have plenty of options when setting up their Post Employment Benefit, including limiting the length of time a participant has to use up their EBC HRA balance and limiting the amount of the EBC HRA balance that becomes available to a participant.
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We make it easy for employers to manage their Post Employment Benefit, too, by automatically removing participants who’ve reached the limits and providing targeted data and reports online. |
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| Most EBC HRAs only allow participants to be reimbursed for medical expenses they incur within a 12-month plan year. After the 12-month plan year ends, these EBC HRAs renew and a new cycle begins. |
While a standard EBC HRA is cyclical, an EBC HRA with the Perpetual Benefit feature is linear. It doesn’t renew every 12 months; instead, once it starts, it runs until the employer decides to end it. |
Employers choose the Perpetual Benefit to bring flexibility to participants and take a slightly more consumer-driven approach to health care, as participants can “save up” their employer-provided deposits and plan to use them in the future. |
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The Additional Benefits feature allows employers to provide participants with additional EBC HRA funds when they meet employer-chosen incentives. It's a unique way to encourage EBC HRA participants to adopt healthy
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behaviors and use their account in certain ways.
Employers can choose to “attach” the Additional Benefits feature to their existing EBC HRA, or create a special EBC HRA that only provides participants with their Additional |
Benefits. We label Additional Benefits so employers and participants will see what additional funds they've provided and earned, respectively, and how they're being used. |
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We have integrated all of these plan designs into the EBC HRA Service Agreement, so employers can choose them when designing their plan.
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Current EBC HRA clients simply request and complete an Addendum to the Service Agreement, available from their Client Liaison.
For existing EBC HRAs, it is best to save these kinds of plan design
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changes for the plan’s next renewal. This helps avoid any disruption to participants’ plan use and makes communicating the change smoother. |