HRA tax reporting is not required…in most cases.

HRAs are generally tax-exempt and don’t require any tax reporting. However, if you’re the divorced spouse or non-dependent survivor of a deceased HRA participant, you must report the value of your HRA coverage as taxable income. In these cases, be watching for a tax statement and instructions from us in the mail.

 

Your Form 1095-B will be available online on or after January 31, 2024.

If your HRA qualified as “minimum essential” coverage during any month in 2023, you can log in and print your Form 1095-B on or after Wednesday, January 31, 2024. Form 1095-B is informational only—just keep it with your tax documents. You don’t need to file it with your individual return. If you need a paper copy, give us a call on or after January 31, 2024 at 1-888-828-4953.

 

Check out our video library!

Click the Videos button. You’ll find several helpful videos, including HRA Overview, How to File a Claim, Supporting Documentation for Claims, Using Your Benefits Card, How to Set Up an Automatic Premium Reimbursement, and How Your HRA Coordinates with Other Benefits.

 

Now is a good time to review your investment allocation.

Making sure you’re in the right pre-mixed portfolio or have selected the right mix of individual funds can help reduce risk and increase potential returns over time. Mark your calendar to review your allocation at least annually.

Read our Choosing Your Investment Allocation brochure to learn more. To get a copy, log in and click Resources. The VEBA Board of Trustees and its agents do not give investment advice.

 

Have you separated from the employer who set up your HRA?

If you’re no longer working for the employer who set up your HRA, make sure we have your separation date on file. This is especially important if your HRA was fully claims eligible while you were working. Medicare should be primary to your HRA. But, if we don’t have your separation date, Medicare will consider your HRA to be primary and can take your HRA funds to cover prior Medicare claims.

Log in. If we have your separation date on file, it will be displayed on your dashboard (landing page) inside the box with your account balance. If you don’t see your separation date, click the envelope icon at the top right of your screen to send it to us using our Secure Messaging Center. You can also reach us at 1-888-828-4953.

 

You might need to elect “limited HRA coverage” if your HRA is fully claims eligible.

If your HRA is fully claims eligible and you’re in any of the situations listed below, you should consider limiting your HRA coverage to help avoid future hassles.

  1. Medicare Coordination. You’re still employed by the employer who set up your HRA and you, your spouse, or a dependent have Medicare coverage, and you don’t want to be forced to use up your HRA funds before Medicare will pay claims.
  2. HSA Eligibility. You, your spouse, or a dependent are making or receiving contributions to a health savings account (HSA). To be eligible for HSA contributions, IRS rules require that you have no other first-dollar coverage. This includes full HRA coverage.
  3. Premium Tax Credit Eligibility. You, your spouse, or a dependent are purchasing insurance through a marketplace exchange and are taking the Premium Tax Credit (subsidy).

You can avoid potential problems by electing limited HRA coverage for yourself, your spouse, and/or a dependent as needed. Just complete and submit a Limited HRA Coverage Election form. The form, which contains more details, is available online. Log in and click Resources.

 

Are you a retiree-rehire with a post-separation (retiree-only) HRA?

If you leave employment with a post-separation (retiree-only) HRA and are later rehired by the employer who set up your HRA, your HRA coverage will once again be limited to dental, vision, and qualified long-term care expenses and premiums during your period of re-employment. You may still file claims for all qualified medical expenses incurred prior to re-employment while your HRA was fully claims eligible. Your HRA may once again provide full coverage after your re-employment ends.

The above retiree-rehire limitation applies to post-separation HRAs only. If you have a standard HRA with in-service claims eligibility, you may continue to file claims without limitation.

 

A Summary of Benefits and Coverage is included with your statement.

We’re required by federal law to provide you with a Summary of Benefits and Coverage (SBC) each year. Keep in mind that the VEBA Plan is a health plan, but it is not insurance. Much of the information and many of the defined terms in the SBC that apply to insurance coverage don’t directly apply to your HRA coverage under the VEBA Plan. Your best HRA information resource is the Plan Summary. To get a copy, log in and click Resources.

 

You can keep filing claims while on military leave.

You can keep filing claims if you’re on military leave governed by the Uniformed Services Employment and Reemployment Rights Act (USERRA) and have a claims-eligible HRA. Also, you can make voluntary after-tax contributions to your HRA under COBRA if your employer has stopped making HRA contributions due to your military leave. Certain restrictions may apply.