Small Group Plans (2-50 employees)

Blue Shield Spectrum PPO Savings Plan 1800

Blue Shield Spectrum PPO Savings Plan 2250

Blue Shield Spectrum PPO Savings Plan 2500

Blue Shield Spectrum PPO Savings Plan 3000

Blue Shield Spectrum PPO Savings Plan 4800 Ind/9600 Family

CaliforniaChoice HSA 1500

CaliforniaChoice HSA 2400

Kaiser Permanente Choice Solution HDHP 1400

Kaiser Permanente Choice Solution HDHP 2400

Mid/Large Group (51+ employees)

Blue Shield Spectrum PPO Savings Plus 2400 Ind/4800 Fam

Blue Shield Spectrum PPO Savings Plus 1500

Blue Shield Spectrum PPO Savings Plus 2250

Blue Shield Spectrum PPO Savings Plus 2600 Ind/5200 Fam

CaliforniaChoice51+ HSA 2000

For high deductible health plan details, call Claremont Insurance today at (800) 696-4543 or e-mail hdhp@claremontcompanies.com.

Establishing a Health Savings Account
By law, to open a health savings account (HSA) and to put money into it, the accountholder must have an HSA-compatible high deductible health plan in place.

Because the HSA itself is a tax-advantaged investment vehicle, the services of a financial institution are required. Claremont Insurance is partnered directly with Sterling HSA to ensure that HSA questions are properly answered, and account needs fully addressed. Founded by experts in the health benefits industry, Sterling HSA provides a personal, knowledgeable link between health insurance plans and HSA investment dollars. Sterling HSA forms and enrollment information can be found by clicking here.

High Deductible Health Plans (HDHPs)
A qualified high deductible health plan is a health insurance plan that satisfies certain requirements in terms of deductibles and out-of-pocket expenses. The policyholder pays 100% of all medical expenses - including physician visits, prescription medications, physical exams, etc. - until the plan deductible is met.

Once the deductible is met, the plan co-insurance becomes effective. Now the policyholder pays the agreed-upon amount of charges - including dollar co-payments and/or a percent of charges - and the insurance plan pays the rest. Co-insurance amounts paid by the policyholder accrue until the calendar year out-of-pocket maximum is reached. Once the maximum is reached, the plan pays 100% of all eligible charges for the remainder of that calendar year. When a new year starts, this payment cycle begins again.

Qualified HDHP - Minimum Plan Deductible
The minimum plan deductible for an individual is $1,000. The minimum plan deductible for a family is $2,000.

Qualified HDHP - Maximum Plan Deductible
There is no maximum deductible. However, total costs to the insured cannot exceed $5,000 for an individual or $10,000 for a family, including the deductible and co-pays.

Qualified HDHP Maximum - Out-of-Pocket Expense
The maximum out-of-pocket expense is $5,000 (individual) or $10,000 (family) for covered expenses.

Paying for Medical Expenses with an HSA
Any medical charges incurred by the HSA accountholder or family members on the qualified HDHP can be paid for with money withdrawn from the HSA for those qualified expenses. Sterling HSA can educate accountholders on how to best use HSA dollars.

Additional Allowable Insurance Coverage
An HSA accountholder must have an HDHP to open the HSA and to put money into the account. He or she cannot be covered by any other medical insurance plan through their employer, their spouse’s employer, parents, etc. The HDHP must be their only medical coverage.

Vision, dental, accident & disability, long-term care, specified disease, auto insurance, and workers compensation are allowed in conjunction with an HSA. Though not considered qualifying HDHPs, these forms of coverage may serve as secondary insurance.

For high deductible health plan details, call Claremont Insurance today at (800) 696-4543 or email hdhp@claremontcompanies.com

Obtain more HSA details at Claremont’s HSA Knowledge Resource Center

Obtain Sterling HSA enrollment forms by clicking here.