HRA, or Health Reimbursement Arrangement, is a health spending account that is managed and provided for by an employer. It reimburses employees for out-of-pocket medical expenses and individual health insurance premiums.

How it works: Only your employer can put in money to your HRA and it is non-tax deductible. You’ll find out what kind of HRA is available and how much your employer puts in it during open enrollment, or when you join the company. If you don't sign up for the HRA at that time, then you'll have to wait until the next open enrollment. When you get care, Blue Cross gets the bill and uses funds from your HRA to pay. You'll see the payment listed on your EOB (explanation of benefits) as well as your member account.