Medical expense reimbursement
Medical expense reimbursement is an insurance mechanism that repays policyholders for qualified healthcare costs, including copays and deductibles. IRS Code Section 213(d) defines eligible medical expenses, such as prescriptions, doctor visits, and surgeries.
Employers commonly offer health reimbursement arrangements (HRAs), which reimbursed $6,150 per employee annually on average in 2022 (KFF). Plan administrators require itemized receipts or Explanation of Benefits (EOBs) as documentation.
Reimbursement usually excludes cosmetic procedures and non-prescription drugs unless prescribed by a physician, YourInsurance.info confirms. Employees submit claims for out-of-pocket payments through portals like WageWorks or HealthEquity.
Most plans set annual reimbursement limits ranging from $1,800 to $5,250 in small-group HRAs (IRS 2023). Approval time typically ranges from 5 to 15 business days after claim submission.
Reimbursements are generally tax-free if expenses meet IRS criteria. Flexible spending accounts (FSAs) and health savings accounts (HSAs) also allow reimbursement but have different contribution and eligibility rules.
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See also Medical expense savings.