Paying for health care is easy with an HRA
The Labcorp HRA can be used to pay for health care expenses you would normally have to pay for with personal funds.
You can use these funds to pay for any eligible medical expense for you, your spouse or your eligible dependents.
Why is an HRA a good choice?
It’s like free money. When you complete certain preventive services or wellness and disease management programs, Labcorp credits dollars to your HRA.
Use your HRA to cover hundreds of eligible health care expenses, including medical, dental, vision, prescription and over-the-counter items.
Quick access to funds
Your HRA card is a convenient way to pay for qualified medical expenses without having to submit paper claim forms. Use it online, at the pharmacy, at the doctor’s office or write your payment card number on your provider bill.
Frequently asked questions about HRAs
Participating in an HRA is a great way to stretch your health care budget. With an HRA, the funds in your account come from your employer, not from your paycheck. These funds are not considered part of your income and therefore are not subject to income, FICA or worker’s compensation tax.
Basically, it's tax-free money to use for qualified medical expenses.
HRAs are easy to use for your health care costs.
- Funding your account. Labcorp will contribute funds to your HRA based on health actions you complete.
- Spending your funds. When you have an eligible health care expense, pay for them with your HRA payment card. Or pay with personal funds and request reimbursement from your HRA. Remember to always keep your receipts.
- Account information. Sign in to your account regularly to check your account balance, view transactions and access health education tools.
No. One of the main differences between HRAs and FSAs is the funding. HRAs are funded solely by employers, while FSAs are typically funded by the employee, usually through pre-tax payroll deductions.
Labcorp contributes up to $500 a year for employees who complete certain healthy activities, including online and telephonic wellness programs and telephonic disease management programs. If your spouse/domestic partner is enrolled in a Labcorp Medical Plan, they also may earn up to $500 in incentive dollars for the plan year.
Please see your plan documents or consult with your human resources office for more information.
Yes. The HRA is designed to cover expenses not paid by your health plan including deductibles, coinsurance and copayments as well as many expenses your health plan may not cover.
You will receive an HRA payment card as a convenient way to access account funds. You can also pay for eligible expenses with personal funds and request reimbursement from your HRA.