If you’re looking for help choosing QSEHRA providers, you’ve come to the right place. The Qualified Small Employer HRA helps small businesses afford benefits for their teams, but remaining compliant with all the regulations and rules should be top of mind.
With tax-free reimbursements, business owners with less than 50 employees save on benefits while employees get to choose the plan that works best for them. Because the rules surrounding HRAs tend to change, they should be administered by a third-party who will make sure you are compliant, and that all your i’s are dotted and your t’s are crossed. Here’s what you should be looking for in a QSEHRA administrator.
What QSEHRA providers do
All HRAs are subject to several laws and legal requirements that you won't want to overlook. It’s important to know about compliance and how to avoid penalties.
A good HRA administration tool will:
Handle compliance, notifications, and reporting.
- IRS Deadlines
- Form 720 (PCORTF)
- Year-end W-2 Reporting
- HIPAA and Privacy Compliance
- Generate QSEHRA Legal Plan Documents
Support your employees
- Provide helpful educational material to communicate to your employees the benefits of their new HRA and how to get the most out of it
- Support employees while they shop for an individual health insurance plan to use with their QSEHRA
- Robust onboarding process
- Answer questions along the way
- Easy platform to request reimbursements (like simply snapping a picture and uploading on phone)
Support business owners
- Easy and quick online signup process
- A customized admin portal to review and approve HRA documents, view monthly reimbursement reports, add/remove employees, manage subscriptions, update payment information, and see overview information about HRAs.
→ Read this startup's QSEHRA review for more info about their experience with Take Command!
Why you need QSEHRA providers
Many small business owners ask if they can administer a QSEHRA themselves. Our best advice? Don't even think about it. When dealing with health insurance and employees' health, privacy is a big deal. There's the HIPAA Privacy Rule, which is another layer of protection for employees' private health information. It's also time consuming for business owners to keep up with the medical receipts, maintain all the health information in a secure way, and handle the paperwork that comes with it.
Take Command as your QSEHRA provider
A good HRA administration tool will do all the heavy lifting for you and help you navigate the process from start to finish.
Ours will help you with:
- Legal documents
- Onboarding employees
- Tax documents and year-end reporting
- HIPAA and privacy compliance
- A customized admin portal to review and approve HRA documents, view monthly reimbursement reports, add/remove employees, manage subscriptions, update payment information, and see overview information about HRAs.
84% of our clients surveyed said they spend less than an hour each month administering their HRA.
How Take Command can help
Take Command's platform drafts plan documents with HIPAA compliant language and instant updates, and takes care of QSEHRA administration requirements like reviewing documents that contain protected health information.
Setting it up is easier than you think. Reach out to our team today and we’ll help you get started!
Let's talk through your HRA questions
A wife to one and mother to four, Keely does all of the things. She’s also dabbled in personal finance blogging and social media management, contributed to MetroFamily magazine, and is passionate about good food, treasure hunting and upcycling. With a B.S. in Psychology from the University of Oklahoma and a knack for a witty punchline, it’s no surprise that Keely’s social posts are as clever as they get. In her (very little) free time, you’ll find Keely with her nose in a book or trying out a local restaurant with her family.
