What's the difference between an HSA and an HRA?
October 20, 2008: 10:09 AM ET
Susan Kelley, Kellsson Linens Inc., Denver
Currently I have a traditional health insurance plan for my business partner and myself. However, I hardly use my insurance, while my partner uses all of his and more. I would like to change from this tradtional health insurance into either a Health Savings Account or Health Reimbursement Account, but find it difficult to get information in regards to how these plans operate, and which would be most beneficial to the company and/or to each of us personally. Can you breakdown these 2 plans, with the pros and cons of each plan, so I can make a more informed decision before our current insurance renewal date?
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