LIFERAFT BENEFITS
A Liferaft Health Reimbursement Account (HRA) is the fastest way for small businesses (<50 employees) to set up affordable benefits. Simply decide on the amount you want to reimburse your employees for benefits — Liferaft will do the rest.
We handle the paperwork, employee plan enrollments, and can have you offering coverage within 24 hours.
Learn more about our HRA pricing:
With Liferaft, you give your employees tax-free dollars to purchase any health insurance they want.
You can decide exactly how much you want to spend.
Your employees will be automatically reimbursed each month through the Liferaft platform.
Companies managing their benefits with Liferaft spend less than five minutes on managing their account each month.
How it works
Decide how much tax-free money to offer each month, depending on your budget. Most of our customers opt to start with $200/per employee/per month.
Liferaft’s expert team will meet with each of your full- and part-time employees to enroll them in health plan that makes the most sense for them.
Our user-friendly 100% digital, HIPPA-compliant experience makes it easy for your employees to get automatically reimbursed each month.
HRA ADMINISTRATION PRICING
Most small businesses start with a $200/per employee/per month benefit. That means you can start offering health benefits to your team of 3 for less than $700/month.
All platform features are available to you — no matter the size of your company.
Starter
1-10 employees
$10 / employee / month
+ $50 / month base fee
+ $500 Implementation Fee
Advanced
11-100 employees
$10 / employee / month
No base fee
+ $500 - $3,000 Implementation Fee
Includes everything in the Starter plan, plus:
Group health can be complex, restrictive, and costly. Liferaft offers something different.
Liferaft’s 2023 Whitepaper on HRAs is the most comprehensive guide available, giving you what you need to determine if an HRA makes sense for your business.
What is an HRA? | HRA Requirements & Features | Eligible HRA Expenses | When an HRA Makes Sense | Different HRA Types | States Where HRA Works Best
Learn more about our HRA pricing and features:
Group health insurance coverage can be complex, restrictive and have unpredictable costs. With Liferaft, simply set a monthly benefit allowance and employees can use their benefits on any qualified medical expense they choose, without facing annual rate hikes or strict requirements.
Many states offer more affordable insurance plans on the individual market than on the small group market. With a Liferaft HRA, you can fund all or part of your employees' health insurance costs with pre-tax dollars, freeing up budget without sacrificing benefits.
Employees choose how to use their benefits, rather than being stuck in a one-size-fits-all group health insurance plan. This flexibility allows employees to tailor their coverage to fit their personal health, budget, and family situation.
health reimbursement arrangement
COST SAVINGS
This business used a Liferaft HRA to reimburse employees for their individually-purchased health insurance premiums—ultimately providing the same level of coverage for $150,000 less each year.
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SUPPLEMENTING COVERAGE
Traditional insurance plans often don’t cover fertility or mental health care costs. So this business chose to supplement its current health insurance plan with expanded coverage for IVF, abortion care, mental health treatment, and birth control.
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FLEXIBLE BENEFITS
With a remote workforce all around the country, finding a plan everyone liked was challenging. With Liferaft, employees purchased plans that worked for them, then were directly reimbursed through our 100% digital platform.
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FIRST TIME
With only three employees, this business struggled to find a group plan that would accept them. But, with Liferaft, they quickly started offering health insurance to the team and their dependents. Plus, they were able to easily add new employees as their business grew.
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