Aetna Targets Small Group Customers with HRA

Hartford, Conn. — Aetna reports that it has entered into an agreement with Flexible (Flex) Benefit Service Corp., a third-party administrator based in Rosemont, Ill., to provide self-funded HRA (Health Reimbursement Arrangement) administrative services to Aetna’s small group market, with the Aetna HealthFund HRA for Small Group. The agreement with Flex is designed to enable Aetna to support the growing needs of the small group market. The HRA will be available nationally for small group customers (groups with two to 50 employees).

Aetna, a Hartford, Conn., health care benefits company that serves approximately 36.4 million people, has made three HRA plan design options available to its small group customers:

1) A traditional HRA, which is coupled with a High Deductible Health Plan (HDHP) to cover the first portion of the deductible.

2) A post-deductible HRA, which is also used in conjunction with an HDHP, where the first portion of a deductible is the employee’s responsibility.

3) A standalone Aetna HealthFund HRA, which is intended to work as a standalone HRA, not used in conjunction with an HDHP, and is typically used to cover only certain expenses such as dental, vision and/or preventive care.

Aetna’s new suite of HealthFund HRA plan options for Small Group customers allows those customers to choose from four different reimbursement options. The HRA can cover eligible expenses which include all section 213(d) expenses, expenses applied only to the deductible, all “health care” expenses (copays, coinsurance and deductible), or other limited “health care” related expenses such as dental, vision and preventive care.

Source: Aetna