Georgia Health Reimbursement Arrangement's

Individual health insurance in Georgia and HRA's (Health Reimbursement Arrangement) just got a big boost. Georgia insurance code, Section 33-51-7 as amended specifically allows individual health insurance plans to be funded through an HRA and will not be subject to Georgia small group health insurance laws.

Federal guidelines for HRA's can be found in IRS Publication 69.

You may enjoy several benefits from having an HRA.

  • Contributions made by your employer can be excluded from your gross income.
  • Reimbursements may be tax free if you pay qualified medical expenses. See Qualified medical expenses, later.
  • Any unused amounts in the HRA can be carried forward for reimbursements in later years.

In addition to the above, individual health insurance policies are not subject to expensive COBRA rules and regulations.

The ability to carry over unused funds from one year to the next makes the HRA more attractive than the "use it or lose it" rules under an FSA.

If you are a business owner in Georgia that is burdened by excessive rules that apply to group health insurance plans, you might want to consider a Health Reimbursement Arrangement and individual health insurance policies.

Affordable Major Medical Insurance in Georgia

Georgia Insurance Shop specializes in major medical plans for individuals and families. We represent all major Georgia health insurance companies including Blue Cross, Humana, Cigna, Kaiser, Aetna and more.

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