23 Benefits
banzai.org
Full-time Employees Benefits
Page Title
Health Reimbursement Account (HRA)
Last updated
If you enroll in a Banzai health plan, you'll be automatically enrolled in a Health Reimbursement Account (HRA) as well. The HRA is offered through Health Equity and is NOT the same as a Health Savings Account (HSA) or FSA. With an HRA, you'll have access to a pool of funds that you can use for reimbursement of medical expenses or to pay a physician directly.
At Banzai, the amount in your HRA is equal to your deductible and out-of-pocket maximum—this means that once your HRA is depleted, all other in-network expenses should be covered by SelectHealth (assuming all reimbursed expenses were applied to your deductible). This is why the Banzai health plan is nicknamed "Canadian Health Care," you really don't pay anything out of pocket other than a small premium.
The HRA reimburses all covered costs, as well as all prescriptions. Check the explanation of coverage pdf to see what expenses are covered.
Highlights
Fully Funded by Banzai
100% of Your Deductible is Reimbursable
HRA Equals Out-of-Pocket Max
Frequently Asked Questions
- Do I need a special debit card to use the HRA?No. In fact, there isn't one available. You can only use the funds in your HRA by filing a claim through HealthEquity.
- How common is an HRA?HRAs are nearly as common as an FSA or HSA. And an HRA that matches your deductible and out-of-pocket maximum is rare. Don't be surprised if providers or even HealthEquity and SelectHealth customer service members take a minute to understand this unique plan.
- Can I use the HRA for dental work or orthodontics?Because the HRA only applies to your medical plan and medical costs, things covered by a Banzai dental plan are not reimbursable with your HRA.