Health Reimbursement Account
Plan Benefit
The medical Health Reimbursement Account (HRA) Plan includes a Health Reimbursement Account to help you pay for eligible medical, dental, vision, and prescription drug expenses.
Eligibility & Enrollment
Eligibility
Associate: You will be enrolled in the Health Reimbursement Account (HRA) on your thirtieth (30th) day of employment (this period is called the Waiting Period) if you are enrolled in the HRA Medical plan and classified in Workday as a Full-Time Associate.
- If your status changes to Full-Time in Workday, you are eligible to join or re-enter the Plan as of the first of the month after the status change.
Temporary Associates and Independent Contractors are not eligible to participate.
Enrollment
New Hires and Rehires: If you elect the Health Reimbursement Account (HRA) Plan, you will automatically be enrolled in the Health Reimbursement Account. What
What is a Health Reimbursement Account?
With the Health Reimbursement Account:
Only CarMax can contribute to the account. The company contribution is prorated for new hires and mid-year enrollments.
You don’t own the account, so if you leave the company or stop participating in this plan, you will forfeit these funds.
Money in the account is automatically deducted for medical expenses – however, you may use your Health Reimbursement Account (HRA) card for dental, vision, and prescription drug expenses.
At the end of the plan year, any unused dollars roll over to the next plan year as long as you continue to enroll in the HRA Plan.
2025 Spending Account Comparison Chart
| Health Reimbursement Account | Health Savings Account | Health Care FSA | Limited Purpose FSA | Day Care Savings Account | |
| Available if you don't participate in a CarMax Medical Plan | No | No | Yes | No | Yes |
| Available if you enroll in the HSA Plan | No | Yes | No | Yes | Yes |
| Available if you enroll in the HRA Plan | Yes | No | Yes | No | Yes |
| Available if you enroll in the PPO Plan | No | No | Yes | No | Yes |
| CarMax Contributions | $300 Associate Only
$600 Associate + Dependent(s)/Family
|
$300 Associate Only
$600 Associate + Dependent(s)/Family
|
None | None | None |
| You can contribute funds up to the IRS annual maximum | No | $4,300 Associate Only
$8,550 Associate + Dependent(s) / Family
Additional $1,000 contribution allowed if age 55 and over
|
$3,299 or maximum IRS allowable limit | $1,500 | $4,999 or maximum IRS allowable limit |
| Your per-paycheck contributions reduce your taxable income | N/A | Yes | Yes | Yes | Yes |
| Contributions earn interest on a tax-deferred basis and can build long-term savings | No | Yes, may build long term savings | No | No | No |
| Contributions roll over year-after-year | Yes, for up to two plan years, as long as you continue to enroll in the HRA Plan | Yes | Yes, up to $660 as long as you elect to continue to participate | Yes, up to $660 as long as you elect to continue to participate | No |
| You can change contribution elections anytime during the plan year | No | Yes | No | No | No |
| You can take your account with you if you leave CarMax | No | Yes | No | No | No |
| You can spend before available funds are deposited | No | No | Yes | Yes | No |
| Funds are available for eligible medical, dental, and vision expenses | Yes, money is automatically deducted for eligible medical expenses; you’ll get a debit card to use for eligible prescription drug, dental, and vision expenses | Yes | Yes | Dental and vision only | No |
| Funds are available for eligible child and elder day care expenses incurred to enable you to work | No | No | No | No | Yes |
