Trustmark Companies

About Us

ABOUT US

In The News

Trustmark's New HRA Options More Closely Meet Employer Needs

LAKE FOREST, Ill., August 24, 2007 — To give employers maximum flexibility while helping employees pay for their healthcare costs, Trustmark Group Benefits, a subsidiary of Trustmark Mutual Holding Company, has introduced three new options in its Health Reimbursement Arrangements (HRA) product, integrated within its HRA-administration and claims-payment systems that pay providers directly.

An employer sets up and funds an HRA to help employees pay for eligible medical expenses, meet deductibles and be more engaged in health decisions. Paired with any health insurance plan, an HRA enables the employer to qualify for lower health-insurance premiums without placing a significantly larger share of healthcare costs on employees. Other advantages include employers incurring HRA expenses only as claims are filed, and deducting 100 percent of the expenses paid from the HRA.

Trustmark’s new options, known as Coinsurance Only HRA, Individual Cap HRA, and In-Network HRA, give employers greater ability to tailor health coverage to both company and employee needs:

Coinsurance Only HRA is used for reimbursing an employee’s coinsurance. In health plans with deductibles, an employee must satisfy the deductible before the HRA begins paying.
Individual Cap HRA is for employees under family health coverage. With this option, each family member can access to a designated portion of the funds in the employee’s HRA account. This ensures that all family members benefit from the HRA. Trustmark also offers a Family Aggregate option, so each family member has unrestricted access to funds in the employee’s HRA account.
In-Network Only HRA can be used only to reimburse in-network claims. With this option, out-of-network claims are not eligible for payment from the HRA. Trustmark also offers and In- and Out-of-Network option.

The three new options join Trustmark’s primary HRA options, known as the Advance HRA, which pays for eligible expenses first; the Bridge HRA, which pays for eligible expenses after the first part of the deductible is satisfied, and the Shared HRA, which splits every eligible claim that applies to deductible between the employee and employer.

About Trustmark Group Benefits
Trustmark Group Benefits offers employers exceptional insurance products and services, such as major medical, prescription drug, dental, life and disability plans at competitive rates.

For more information about Trustmark Group Benefits, visit www.trustmarkins.com/group. Or contact Steve Salzman, AVP Marketing at consideritdone@trustmarkins.com or (847) 283-2394.

[Back to Press Release List]