On Dec. 13, 2016, the 21st Century Cures Act (Act) was signed into law. The Act allows small employers that do not maintain group health plans to establish stand-alone health reimbursement arrangements (HRAs), effective for plan years beginning on or after Jan. 1, 2017. This new type of HRA is called a “qualified small employer HRA.”
Specific requirements apply, including a maximum benefit limit and notice requirement.
For more details, review Hartman’s compliance alert (below) as well as original text (hyperlink included below).
Original text for law found here: https://www.congress.gov/bill/114th-congress/house-bill/34/text