Health Reimbursement Account
Formerly called "Flexible Reimursement Account" at Vanderbilt. We have changed the name to match the Internal Revenue Service and PayFlex.
Click here for FSA/HRA Frequently Asked Questions — including information about the transition to PayFlex.
The Health Reimbursement Account (HRA) is a health care reimbursement account for faculty and staff whose employment began on or before December 31, 2004.
Vanderbilt deposits $25 per month ($300 annually) into an account for each eligible faculty and staff member starting with the first month in which they become eligible. For access the money in your FRA, you can either swipe the health care card or pay for the item/service at the point of purchase then submit a claim form and required documentation to the spending account administrator, PayFlex Systems USA, Inc.
Faculty and staff become eligible after five years of continuous, full-time, regular employment at Vanderbilt providing they are enrolled in the Vanderbilt Health Care Plan for Faculty and Staff for that entire time, with no break in coverage. (NOTE: Faculty and staff who began full-time employment before April 1, 1996, were not subject to the five-year wait for eligibility.) If, at any time, an employee opts out of coverage under the Vanderbilt Health Care Plan for Faculty and Staff, eligibility, and the ability to accrue the five-year service requirement, is relinquished.
The plan year for the HRA is from January 1 to December 31. The deadline to submit claims and supporting documentation (called 'the run-out period') is each February 28.
For more information, find the Flexible Reimbursement Account Summary Plan Description on the Forms and Documents page.
How is the money paid accessed if you have both a health care FSA and the HRA?
When you file a claim (or swipe the health care card at the point of service), the first money that is accessed to pay for the eligible expense comes from your FSA. At the point during the year that you use all of the money in your FSA, then funds would come from your HRA. Paper claim forms for the health care FSA and HRA are the same.
For More Information
- Health Reimbursement Account Summary Plan Description is listed on the Forms and Documents page
- View the FSA/HRA FAQs
- Read Internal Revenue Service Publication 502 "Medical and Dental Expenses"
- Read Internal Revenue Service Publication 969 "Health Savings Accounts and Other Tax-favored Plans" (refer to Publication 969's page 14 for our Flexible Spending Account and page 15 for our Health Reimbursement Account)
For complete details on the Health Reimbursement Account benefit, refer to the "Health Reimbursement Account Summary Plan Description" on the Forms and Documents page.
Contact Information
PayFlex Systems, Inc.
http://vanderbilt.payflex.com
Customer Service 800.284.4885
Toll-free fax 800.450.0016
Vanderbilt University is committed
to principles of equal opportunity and affirmative action.
HR Express 2525 West End Ave Suite 218 Nashville TN 37203 Hours M-F 7:30 - 5:30 Last Updated: October 19, 2009 |
 |