Health Reimbursement Account

Health Reimbursement Account

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Health Reimbursement Account

Health Reimbursement Account definition:  A health reimbursement account reimburses employees for medical expenses.  The family business can use health reimbursement accounts to cover family member employee’s health expenses in a tax-efficient way.  The employer receives a tax deduction for distributions, and the employee receives the money tax-free.  The employer can use discretion in funding the account.

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