The HMRA program (HMRA®) is an employer health care funding mechanism and HIPAA compliant program. It represents the ideal method for employers to use medical reimbursement accounts to maximize savings on employee medical expenses. The HMRA is exclusively offered by National Prosperity Health Matching Services, Inc. and pre-funds employee claims ahead of time into reimbursement accounts that earn a medical benefit crediting that grows following each monthly, employer contribution.
Through this pre-funding of claims with the HMRA, the employer will be saving money on their most frequent, first-dollar, member claim obligations when they occur post-claim adjudication. These savings are earned above and beyond what the employer contributes into the program. The employer will be receiving additional medical benefits flowing into the company that would not have been possible without the HMRA program in place because of the rapid growth of the employer’s HMRA medical reserves and employee account balances through the monthly, HMRA account crediting feature.
The HMRA is a cost-containment program for employers that is designed to rapidly build medical reserves in each participating group member’s HMRA account balancer. The first-dollar, medical benefit crediting awarded into all participating members’ HMRA account balances from the employer contribution grows each and every month until the employer is receiving up to $2 or more in benefits to be allocated as medical reserves inside of their group members’ HMRA account balances on a monthly basis for every $1 contributed as the program progresses. The employer group members’ HMRA account balances do carry over annually.
This sample illustration demonstrates how an individual group member’s HMRA account balance would grow for the employer over a 35-month period given a $132 per month contribution by the employer. The monthly, medical benefits awarded through HMRA Program steadily increase over time as the individual member account balance grows. Once members reach their target, account balance caps, which in this case is $10,000, the employer is no longer responsible for making a monthly contribution towards those members’ HMRA accounts (only small maintenance fees are required) until a subsequent claim is filed by that group member. The HMRA program is both flexible and customizable so that the employer can also decide each year whether to increase or decrease their contribution amounts and target account balance caps across all of their groups’ tiers and family structures.
For employers with HRA programs, the HMRA account balance benefits can be utilized as the funding and payment vehicle for the HRA program itself. In a self-funded arrangement, the HMRA benefits are reimbursed directly back to the employer each month when their participating group members file any qualifying, 213(d) medical claims. The HMRA will reimburse the employer in full on claims filed up to the filing member’s HMRA account balance at the time of the claim regardless of the existing employee cost-sharing arrangement and plan design.