When you enroll in the PPO Copay Plan, you gain access to a Health Reimbursement Arrangement (HRA) powered by Health Equity. The HRA is funded by contributions from Ferrotec to help you and your covered dependents pay for qualified health care expenses.
The HRA through Health Equity will reimburse plan members 50%, up to a maximum of $2,000 per individual, for eligible health care expenses within a plan year. Unused funds do not roll over, are non-transferrable, and are forfeited if you leave Ferrotec for any reason.
2026 plan year Ferrotec HRA Contributions maximum per plan year.
- Individual coverage: Up to $2,000
- Family coverage Up to $4,000
How it works
| Participant | You incur a cost toward your health insurance. |
| Provider | Your health care provider submits a claim to Health Equity. |
| Health Equity | An Explanation of Benefits (EOB) to you as well as Health Equity. |
| Provider | Your provider will bill you for any unpaid portion of your medical bill. |
| Health Equity | Health Equity will reimburse you for eligible expenses, according to your HRA plan. |
| Participant | You pay your provider with the HRA reimbursement received from Health Equity or keep the reimbursement if you already paid your provider. |
Did you know…
While enrolled in the PPO Copay Plan with HRA you are not eligible to participate in the HSA. However, you may still enroll in the Health Care Flexible Spending Account (FSA) to set aside tax-free dollars for qualified medical expenses.
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