New Law Enables Small Businesses to Offer Standalone HRAs


President Obama signed into law the 21st Century Cures Act on December 13, 2016.  OMA Connections Partner, Clark Schaefer Hackett, posted this news about the resulting small employer health care option:  “… beginning January 1, 2017, qualified small employers can use Health Reimbursement Arrangements (HRAs) to reimburse employees who purchase individual insurance coverage, rather than providing employees with costly group health plans.” Cheri Gillfillan, President, One Source Advisors, OMA’s endorsed health care plan broker, said, “It will not impact many employers due to the restrictive parameters.  It is newsworthy only in what it is NOT more than what it is.  Many small employers that read about it will think they can reinstitute paying for employees’ individual coverage premium as a deductible business expense.  The Cures act does NOT provide for that in general.” For more information about how this may or may not benefit your company, contact Cheri Gillfillan or Stacie Hoover at One Source Advisors, an OMA Connections Partner  1/2/2017