Site Map Icon
RSS Feed icon
 
 
 

IAFF Local Newswire
 
Join the Newswire!
Updated: Apr. 20 (21:00)

Elmira, N.Y. I.A.F.F. Local 709 to again host Golf Tournament
Lets Fire Cancer
April 17, 2024: UPFFA of Ct. Raymond D. Shea Legislative Conference/Lobby Day
UPFFA
3rd Annual "Sweat for a Cause"
Colorado Professional Fire Fighters
A Message from IAFF President Ed Kelly
Colorado Professional Fire Fighters
2024 Dues Assessment for VPFF
Newport News Firefighter's Association
MDA 2024 Boot Camp Registration
Colorado Professional Fire Fighters
 
     
April 20, 2024
UnionActive Police Newswire
 
Join the Newswire!
Updated: Apr. 20 (18:01)

Contract Negotiations
Duluth Police Local #807
Contract Negotiations
Duluth Police Local #807
Funeral Services for Retired Captain Luis Barba #37
El Paso Municipal Police Officers' Association
El Paso Police Academy reduces from 11 months to 8.5; promises to maintain high standards
El Paso Municipal Police Officers' Association
Community Conversations: El Paso police prioritize DWIS, emphasize prevention role
El Paso Municipal Police Officers' Association
Memorial Fund Fundraiser
Saint Louis Police Officers Association
 
     
Action Center
<< April 2024 >>
S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30
How the HRA Works
Posted On: Jun 165, 2019

How the HRA Works

Established as a Voluntary Employee Benefit Association (VEBA) trust under Section 501(c)(9) of the Internal Revenue Code, the HRA offers employers the opportunity to help their employees pay for post-employment health care expenses on a tax-free basis.

The plan allows employers to make tax-free contributions to their employees’ accounts.  Employees may make tax-free withdrawals from those accounts upon separation from service or retirement.  The money can be used to pay for health insurance premiums and/or qualified out-of-pocket expenses (such as prescription drugs, eyeglasses, and office visit co-pays) incurred by employees and their eligible dependents.  For specific information about eligible expenses, employers should refer to their plan summary. 

Because the HRA program allows tax-free contributions by employers, it not only creates a post-employment benefit for employees, but it may provide a way for employers to lessen their future tax liability.

  • If contributions to the HRA are being made from accumulated leave, such as sick and vacation leave, employers can reduce their future tax liability associated with payment of these amounts.
  • Employers save all payroll taxes associated with contributions, thus providing additional funds for the employer to utilize to support their overall benefit programs for employees.
  • Employees’ account balances are not subject to federal or state income taxes when deposited, while growing, or when withdrawn for qualified expenses.
  • Ownership of the HRA account can be either the employer or the employees.

For more information please contact:

Valerie Schmitz   (216) 225-9075   vschmitz@financialguide.com

Amie Fox CFP®, ChFC, CLTC  (216) 592-7310 amiefox@financialguide.com

Skylight Financial Group


Ohio Police and Fire

SERB

IAFF

Legal Services

Legislative Services

Firefighter Memorial Ride

Phoenix Society

Lake Erie Loop

MDA

American Lung Association

Red Cross

FMCS

AAA

Member Login
Username:

Password:


Not registered yet?
Click Here to sign-up

Forgot Your Login?
Labor Headlines

US labour news headlines from LabourStart

Tennessee Volkswagen workers vote on union membership in test of UAW’s plan to expand its ranks
UAW ahead as first ballots counted in union vote at Volkswagen's Tennessee factory
UAW clinches watershed union victory at Volkswagen Tennessee factory
union drive
Volkswagen workers vote to unionize in major win for organised labour
 
 
Northern Ohio Fire Fighters
Copyright © 2024, All Rights Reserved.
Powered By UnionActive™

925598 hits since Dec 04, 2006
Visit Unions-America.com!

Top of Page image