HRA – Precision Retirement Group

Health Reimbursement Account

The PRIME Plan, Precision Retirement Group’s Health Reimbursement Account, is an employer-sponsored trust that allows you, as an employer, to fund employee and retiree medical benefits on an entirely tax-free basis. The plan is designed to help government employers meet the challenges of providing medical benefits for employees and retirees.

The PRIME Plan

Employer contributions and benefit payments are received on a tax-free basis

Distributed tax free for qualified medical expenses

Often, special forms of compensation (accumulated sick leave, vacation time, stipend pay outs, PTO, or early retirement incentives) are diminished at retirement. This plan helps to maximize those forms of compensation by providing a way to benefit from those dollars, tax free. All employer contributions and benefit payments are received on a tax-free basis, and are distributed tax free for qualified medical expenses. (Qualified expenses are outlined under IRS Publication 502).

Contributions to the plan are deposited according to the employer guidelines established upon plan setup. Plans can be customized to fit each government entity to meet their specific needs. Participants will receive quarterly statements summarizing all account activity and account access is available to them anytime, online. Participants are reimbursed for qualified medical expenses by our third-party administrator, Pelion Benefits. For plan customization and implementation, please contact us.