Health Reimbursement Account

What you need to know

A Health Reimbursement Account (HRA) helps you pay for eligible medical expenses, like coinsurance and your deductible. If you enroll in the Meritain Copay Plan and are in Grade level 15–19, an HRA is automatically opened for you and completely funded by PayPal.

How it works

Once your HRA has been opened, PayPal will make a one-time payment into your account — $500 for employee only coverage or $1,200 if you cover dependents. You’ll receive a debit card from HealthEquity to pay for eligible medical expenses.

When you have an HRA, you can also participate in a Health Care Flexible Spending Account (FSA). However, the IRS does not allow you to be reimbursed by both your HRA and FSA for the same expenses.

If you’re also participating in the Health Care Flexible Spending Account (FSA), you can manage both accounts with just one card — there’s no guesswork about which card to use for expenses. All eligible expenses will be paid from your HRA first, then from your Health Care FSA. If you can’t use all your Health Care FSA funds, up to $640 in remaining funds at the end of the year will carryover if you continue to participate in the Health Care FSA next year.

In addition to any medical expenses, you can use your HRA to pay for eligible dental and vision expenses and over-the-counter (OTC) purchases, like pain relievers, cold or allergy medication, and even face masks and hand sanitizers!

Claim filing due dates

The deadline to file eligible claims incurred from January 1, 2023, to December 31, 2023, is April 30, 2024.

Please note: If you have eligible claims incurred from January 1, 2022, to December 31, 2022, the deadline to submit eligible claims to HealthEquity was extended from April 30, 2023, to December 31, 2023, due to end of the National Emergency period.

Use it or lose it

You have until the end of the year to use the funds in your account. Any remaining money will be forfeited.

At the beginning of each year, your HRA will be funded by PayPal as long as you’re still enrolled in the Meritain Copay Plan and remain in Grade level 15–19.

Compare the benefits and advantages of the HRA, HSA, and FSA.

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