The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law that mandates an insurance program give some employees the ability to continue health insurance coverage after leaving employment.

Flexible Spending Account (FSA) allows employees to set aside (via payroll deduction) pre-tax money which can then be used to reimburse the employee for paymnets for uncovered medical expenses, such as deductibles, co-payments and dental or eye care expenses, or dependent care expenses.

Health Reimbursement Arrangement (HRA) is part of a health plan that lets members use a fund to pay health care costs. The member’s employer puts money into a fund. Members can use the fund to pay deductibles, coinsurance and other covered health care costs.