The Enhanced Standard Option with Health Reimbursement Account (HRA)

The Enhanced Standard Option focuses on current year expenses. It combines a higher level of medical coverage with a tax-advantaged Health Reimbursement Account (HRA).

This option might be a good choice for you if:

  • You and your family tend to have high medical expenses, or many out-of-network expenses.
  • You want to keep your out-of-pocket costs as low and predictable as possible, and are willing to pay more for coverage to do so.
  • You think the Fordham-funded HRA is adequate for current year out-of-pocket expenses, or if not, you want to contribute to a Health Care FSA.
  • You are interested in the coverage enhancements available under this option, including advanced fertility treatment and unlimited rehabilitative services (physical therapy, speech therapy, chiropractic care, occupational therapy, and acupuncture)

Compare prescription drug coverage and out-of-pocket expenses. Get more details in our Enhanced Standard Option User Guide and the Fordham University Benefit Summary: Choice Plus Enhanced Standard Option.

HRA Key Features

A Health Reimbursement Account offers these key features to help you pay current year out-of-pocket costs:

  • Fordham contributions only. Only Fordham contributes to an HRA. Fordham’s contributions are tax-free. Employee contributions are not permitted. However, you may contribute pre-tax dollars to a Health Care Flexible Spending Account (FSA), which you can use to pay for qualified health care expenses such as office visits and prescription drug copays.
  • Account rollovers (limited). Unused HRA amounts roll over to the following year (until December 31, 2020).
  • Account access if you leave (limited). You have access to your HRA for up to one year following your last date of employment (until December 31, 2020).

Your HRA is administered by Discovery Benefits and you can access your account at www.discoverybenefits.com.

HRA Contributions

If you enroll in the Enhanced Standard Option, Fordham will contribute the following amounts to your HRA for 2020:

$200 Employee
$400 Family

HSA or HRA?

Bottom Line

The Enhanced Standard Option may offer you the best value, depending on your needs and preferences. Be sure to use the Medical Plan Cost Estimator to explore scenarios and see which option fits you best.