Qualified Small Employer Health Reimbursement Arrangement (QSEHRA)
SURENCY ADVANTAGEPLUS is now SURENCY FLEX
What is a Qualified Small Employer Health Reimbursement Arrangement?
A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is a plan designed to help your employees pay for qualified medical expenses. It is specifically designed for companies with fewer than 50 full-time employees and is funded solely through employer contributions.
Employers set aside money on a pre-tax basis — this means as long as employees use the money for qualified medical expenses, they won’t pay income taxes on it.
The QSEHRA is special in that it allows employees to pay for individual health insurance premiums that meet the Minimum Essential Coverage (MEC) requirements. As the employer, you are able to set what expenses count as qualified.
How Does It Work?
Participating in a Surency Flex QSEHRA is easy.
Employers contribute a specified amount to each eligible employee’s account each year. The money may be deposited in increments or in one lump sum.
When an employee is ready to use the money in his or her QSEHRA for an eligible expense, they pay for their qualified medical expenses up front, then submit this claim form for reimbursement by mail: Surency Flex, P.O. Box 789773, Wichita, KS 67278-9773; or by fax: 316-272-4841.
As the employer, you determine if funds roll over at the end of each year. If rollover is not available, employees must use the funds in their QSEHRA by the end of the year.
Want to offer your employees a QSEHRA?
Fill out the form below to get started. A Surency team member will reach out to help you with your custom Surency Flex solution.