YOUR HEALTH
Health Reimbursement Arrangement (HRA)
Powell’s two Consumer Driven Health Plans (CDHPs), the Premier CDHP and Basic CDHP come with a Health Reimbursement Arrangement (HRA). Powell funds the HRA through a MasterCard debit card to help you pay for eligible out-of-pocket healthcare expenses that are not covered under your plan, such as copayments, deductibles, co-insurance, etc.
Here’s how it works:
- Powell will make a HRA contribution to your account on January 1st based on the CDHP and coverage tier you are enrolled in. You cannot contribute to the HRA.
- After December 31st, any unused HRA funds are rolled over into the following plan year and combined with the new plan year HRA contribution as long as you continue enrollment in a CDHP. The maximum HRA account balance for the new plan year cannot exceed two times (2x) the Powell HRA contribution for that year. Any unused HRA dollars over the account balance maximum will be forfeited back to the Plan.
- If you are enrolled in a Healthcare Flexible Spending Account (HFSA) as well, your HFSA funds will be loaded on the same debit card as your HRA funds. HFSA funds are required to exhaust before HRA funds, which allows you to rollover more of your HRA funds year after year.
Powell HRA Contribution, Maximum Rollover and Maximum Account Table
View Larger Table | Download PDF
| Premier CDHP | Basic CDHP | |||||
| Powell HRA Contribution | Max Rollover Dollars on January 1 | Maximum Account Balance | Powell HRA Contribution | Max Rollover Dollars on January 1 | Maximum Account Balance | |
| Employee Only | $750 | $750 | $1,500 | $500 | $500 | $1,000 |
| Employee + Spouse | $1,000 | $1,000 | $2,000 | $750 | $750 | $1,500 |
| Employee + Child(ren) | $1,000 | $1,000 | $2,000 | $750 | $750 | $1,500 |
| Employee + Family | $1,500 | $1,500 | $3,000 | $1,000 | $1,000 | $2,000 |
If you’re a new hire, the annual HRA contribution amount is prorated based on the month of your benefits eligibility date, please see the table below.
View Larger Table | Download PDF
| Pro-rated HRA Monthly Contributions Amounts | ||||||||
| January | February | March | April | |||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic | |
| Employee Only | $750.00 | $500.00 | $687.50 | $458.33 | $625.00 | $416.67 | $562.50 | $375.00 |
| Employee + Spouse | $1,000.00 | $750.00 | $916.67 | $687.50 | $833.34 | $625.00 | $750.00 | $562.50 |
| Employee + Child(ren) | $1,000.00 | $750.00 | $916.67 | $687.50 | $833.34 | $625.00 | $750.00 | $562.50 |
| Employee + Family | $1,500.00 | $1,000.00 | $1,375.00 | $916.67 | $1,250.00 | $833.34 | $1,125.00 | $750.00 |
| May | June | July | August | |||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic | |
| Employee Only | $500.00 | $333.32 | $437.50 | $291.65 | $375.00 | $250.00 | $312.50 | $208.33 |
| Employee + Spouse | $666.67 | $500.00 | $583.34 | $437.50 | $500.00 | $375.00 | $416.67 | $312.50 |
| Employee + Child(ren) | $666.67 | $500.00 | $583.34 | $437.50 | $500.00 | $375.00 | $416.67 | $312.50 |
| Employee + Family | $1,000.00 | $666.67 | $875.00 | $583.33 | $750.00 | $500.02 | $625.00 | $416.67 |
| September | October | November | December | |||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic | |
| Employee Only | $250.00 | $166.67 | $187.50 | $125.00 | $125.00 | $83.30 | $62.50 | $41.67 |
| Employee + Spouse | $333.34 | $250.00 | $250.00 | $187.50 | $166.67 | $125.00 | $83.33 | $62.50 |
| Employee + Child(ren) | $333.34 | $250.00 | $250.00 | $187.50 | $166.67 | $125.00 | $83.33 | $62.50 |
| Employee + Family | $500.00 | $333.33 | $375.00 | $250.00 | $250.00 | $166.70 | $125.00 | $83.33 |
To learn more about Powell’s HRA Account, see the FAQs.
Resources
www.taxsaverplan.com
800-328-4337
| Premier CDHP | Basic CDHP | |||||
| Powell HRA Contribution | Max Rollover Dollars on January 1 | Maximum Account Balance | Powell HRA Contribution | Max Rollover Dollars on January 1 | Maximum Account Balance | |
| Employee Only | $750 | $750 | $1,500 | $500 | $500 | $1,000 |
| Employee + Spouse | $1,000 | $1,000 | $2,000 | $750 | $750 | $1,500 |
| Employee + Child(ren) | $1,000 | $1,000 | $2,000 | $750 | $750 | $1,500 |
| Employee + Family | $1,500 | $1,500 | $3,000 | $1,000 | $1,000 | $2,000 |
| Pro-rated HRA Monthly Contributions Amounts | |||||||
| January | February | March | April | ||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic |
| $ 750.00 | $500.00 | $ 687.50 | $ 458.33 | $ 625.00 | $ 416.67 | $ 562.50 | $ 375.00 |
| $ 1,000.00 | $ 750.00 | $ 916.67 | $ 687.50 | $ 833.34 | $ 625.00 | $ 750.00 | $ 562.50 |
| $ 1,000.00 | $ 750.00 | $ 916.67 | $ 687.50 | $ 833.34 | $ 625.00 | $ 750.00 | $ 562.50 |
| $ 1,500.00 | $ 1,000.00 | $ 1,375.00 | $ 916.67 | $ 1,250.00 | $ 833.34 | $ 1,125.00 | $ 750.00 |
| May | June | July | August | ||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic |
| $ 500.00 | $ 333.32 | $ 437.50 | $ 291.65 | $ 375.00 | $ 250.00 | $ 312.50 | $ 208.33 |
| $ 666.67 | $ 500.00 | $ 583.34 | $ 437.50 | $ 500.00 | $ 375.00 | $ 416.67 | $ 312.50 |
| $ 666.67 | $ 500.00 | $ 583.34 | $ 437.50 | $ 500.00 | $ 375.00 | $ 416.67 | $ 312.50 |
| $ 1,000.00 | $ 666.67 | $ 875.00 | $ 583.33 | $ 750.00 | $ 500.02 | $ 625.00 | $ 416.67 |
| September | October | November | December | ||||
| Premier | Basic | Premier | Basic | Premier | Basic | Premier | Basic |
| $ 250.00 | $ 166.67 | $ 187.50 | $ 125.00 | $ 125.00 | $ 83.30 | $ 62.50 | $ 41.67 |
| $ 333.34 | $ 250.00 | $ 250.00 | $ 187.50 | $ 166.67 | $ 125.00 | $ 83.33 | $ 62.50 |
| $ 333.34 | $ 250.00 | $ 250.00 | $ 187.50 | $ 166.67 | $ 125.00 | $ 83.33 | $ 62.50 |
| $ 500.00 | $ 333.33 | $ 375.00 | $ 250.00 | $ 250.00 | $ 166.70 | $ 125.00 | $ 83.33 |