The HRA Plan is closed to new participants as of January 1, 2018.
A Health Reimbursement Account (HRA) helps you pay for qualified medical expenses.
How It Works
If you enroll in the Health Reimbursement Account (HRA) Plan, Synopsys contributes money to your HRA on your behalf.
- When you have a medical expense—such as a deductible or coinsurance—the HRA will automatically pay for it.
- Once you use up your HRA funds, you’re responsible for paying for your medical expenses until you reach your out-of-pocket maximum.
- You can carry over unused funds into the next calendar year.
- An HRA is not an individual account. It does not provide you with tax advantages, and you cannot take the money with you if you leave Synopsys or change medical plans.
Synopsys will contribute $1,000 if you have employee-only coverage and $2,000 if you cover dependents.
|Coverage Level||Synopsys Contribution|
|Employee + one or more dependent||$2,000|
You can use your HRA to pay for eligible medical services such as:
- Doctor office visits
- Emergency services
- Hospital care
- Lab services
- Mental health and substance use services
- Outpatient care services
- Pregnancy and newborn care
- Rehabilitation services and devices
You cannot use your HRA to pay for dental or vision expenses or for prescriptions.
To view your HRA balance and claims paid by your HRA, visit UnitedHealthCare's website.
For more information about what’s covered and how HRAs work, refer to the medical plan comparison chart.