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Frequently Asked Questions About Health-Reimbursement Accounts

Get answers to frequently asked questions about Health-Reimbursement Accounts (HRAs), how they work, and how they're different from Flexible Spending Accounts (FSAs).

What is a Health-Reimbursement Account (HRA)?
What is the difference between a Flexible Spending Account (FSA) and a HRA?
Do I have to be enrolled in a Honeywell sponsored health plan to qualify for the HRA incentive?
When can I start using the award credited to my HRA?
If I am a family member of a Honeywell employee, will I get $500 deposited into an HRA?
How can I find out the balance of my HRA?
Does the HRA earn interest?
Can I use the HRA award for any out of pocket medical expense or just the expenses associated
with the incentive program?
What is a "qualifying expense?
Can I be reimbursed for medical expenses that I incurred prior to having the HRA established?
What happens if I leave Honeywell and haven't used award credited to my HRA?
Can I get more than one HRA incentive payment in a year?
Q. What is a Health-Reimbursement Account (HRA)? Return to top
A. An HRA is a tax-free Account Honeywell establishes to help you pay for eligible health care expenses that are not covered through your health insurance plan. You cannot contribute money to this Account; only Honeywell can credit your HRA Account with an incentive award. If your HRA Account has a credit or balance at the end of the year, it will roll over to the next year and you can use it to pay for future health care expenses that are not reimbursed by a health plan.
Q. What is the difference between a Flexible Spending Account (FSA)
and a HRA?
Return to top
A. An HRA is a tax-free Account Honeywell establishes to help you pay for eligible out of pocket health care expenses. You cannot contribute money to an HRA Account; only Honeywell can credit your HRA Account with an incentive award. If your HRA Account has a credit or balance at the end of the year, it will roll over to the next year and you can use it to pay for future health care expenses that are not reimbursed by a health plan.

An FSA is also a tax-free Account you can use to pay for non-reimbursed eligible health care expenses. There are two differences: Honeywell does not contribute to the FSA - you can contribute up to $5,000* from your wages each year to the FSA. If you don't use all the money in your FSA Account by March 15th of next year, the balance is forfeited (the "use it or lose it" feature, required by law). For more information on FSAs, see Honeywell Compensation, Benefits & Career .

In both cases, you can use your Account to pay for non-reimbursed eligible out-of-pocket health care, dental care, or vision care expenses for you or for dependents you claim on your tax returns. Some expenses aren't eligible, such as expenses for cosmetic procedures. Your FSA and HRA summary plan description has additional details.

* Some bargaining units offer an FSA with a lower annual maximum contribution; please check your plan summary for details.

Q. Do I have to be enrolled in a Honeywell sponsored health plan to qualify
for the HRA incentive?
Return to top
A. No. The HRA incentive program is available to all Honeywell employees. You do not need to be enrolled in a Honeywell sponsored health plan in order to qualify for the HRA incentive.
Q. When can I start using the award credited to my HRA? Return to top
A. The $500 will be credited once you have completed the three-step qualification process. You can submit a claim and receive reimbursement for an eligible expense any time after it is credited.
Q. If I am a family member of a Honeywell employee, will I get $500
deposited into an HRA?
Return to top
A. A family member of a Honeywell employee that meets the IRS definition of a qualified dependent is eligible to qualify for the $500 incentive; however the HRA Account will be established in the Honeywell employee's name on behalf of the dependent.
Q. How can I find out the balance of my HRA? Return to top
A. ADP will be administering the plan, and you can request information from them and find out what your HRA balance is online at www.flexdirect.adp.com or by calling 1-800-654-6695 .
Q. Does the HRA earn interest? Return to top
A. No.
Q. Can I use the HRA award for any out of pocket medical expense or just
the expenses associated with the incentive program?
Return to top
A. You can use the HRA award for any eligible out-of-pocket health care expense or for future eligible out of pocket health care expenses for you or an eligible dependent.
Q. What is a "qualifying expense?" Return to top
A. In general, the same expenses that are eligible for reimbursement from a Health Care Flexible Spending Account (FSA) are eligible for reimbursement through the HRA as well. This excludes cosmetic procedures (e.g., cosmetic surgery or cosmetic dental work), or any expense reimbursable from a health plan. But, most out-of-pocket medical, dental, and vision care expenses are eligible. Your Summary Plan Description (SPD) for the FSA lists eligible expenses in more detail. You can learn more about eligible HRA expenses online at www.flexdirect.adp.com , under the Health Care Spending Acct Overview.
Q. Can I be reimbursed for medical expenses that I incurred prior to
having the HRA established?
Return to top
A. No. Eligible expenses for reimbursement from the HRA Account must be incurred after the date your HRA is established.
Q. What happens if I leave Honeywell and haven't used the award
credited to my HRA?
Return to top
A. You can continue to use the balance in your HRA even after you leave Honeywell, as long as you continue to be eligible for COBRA coverage (typically, for 18 months following the end of your employment).
Q. Can I get more than one HRA incentive payment in a year? Return to top
A. Yes, if you experience more than one of the eight qualifying physician confirmed diagnosis and recommendations for surgery, or if both you and a covered family member have a physician confirmed diagnosis and recommendations for surgery for one of the eight covered procedures, you can receive incentive payments for each occurrence. However, you cannot receive two incentive payments for the same diagnosis and surgery recommendation.

 

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