To access the carrier product and rate information provided by PRISM, check the box below indicating you have read and agree to the license agreement. A button will then appear to access PRISM.
Sterling Health Services Administration is an independent, privately held company that specializes in administering health savings accounts (HSAs), health reimbursement arrangements (HRAs), flexible benefit plans (FSAs and transportation benefits), premium only plans (POPs), and COBRA.
Prepare your small group renewals with our helpful resources. And check out the broker bonuses and commissions.
|New Business Submission Deadlines||Effective Dates||Deadlines|
|COBRA/HSA/FSA/POP 15 days prior to the effective date.|
New Group Submission Instructions
Claremont Insurance is here to assist you by providing carrier and product information, plan quotes and comparisons, employer presentations, open enrollment assistance and more for a variety of products offered by California’s premier insurance carriers.
Plan summaries, information about HSA-compatible High Deductible Health Plans and Sterling HSA plan administration are always available through Claremont.
Questions regarding high deductible health plans or HSA administration can be directed to: email@example.com.
Please submit your new group enrollment information to Claremont:
Business Hours: 8:00 am to 5:00 pm, Monday – Friday
Founded by health insurance industry experts, Sterling HSA offers a comprehensive range of services, including education, knowledgeable and personable customer service, claims & account supervision, payment of medical bills, the reporting necessary to establish and manage the HSA, and more.
A Health Savings Account (HSA) is like a medical IRA. Money can be used for medical expenses today or saved for the future. The money in the HSA account can be used for any “qualified medical expense” permitted under Federal law, including dental and vision care. There are many advantages to putting money into health savings accounts, including favorable tax treatment.
Health Reimbursement Arrangements (HRAs) are defined contribution plans that employers own and control for the benefit of their employees. HRAs are 100% employer funded and represent an employer’s commitment to pay for certain healthcare expenses for their employees. Employers set the coverage “rules” for HRAs, but they are governed by Section 105(H) of the IRS Code. HRAs are considered group health plans and are subject to COBRA, ERISA, and HIPAA regulations.
Flexible Spending Accounts (FSAs) commonly called Flexible Benefit Plans, give employers and employees a great way to pay for healthcare costs and realize substantial tax savings. Through payroll deduction, employees purchase “qualified benefits” that may not be included in their gross income. The tax-advantaged money set aside in FSAs can be used to pay for qualified medical expenses, dependent care, and transportation costs.
• Healthcare FSAs.
• Limited Purpose or Post Deductible FSAs to coordinate Healthcare FSAs with other plans.
• Dependent Care FSAs.
• Transit and parking benefits.
Section 125 Premium Only Plan (POP), allows employees to increase take-home pay and improve benefits. A POP allows employees to pay their portion of eligible employer-sponsored premiums and benefits – such as health, dental, vision, and health savings account (HSA) contributions with pre-tax dollars.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 requires employers of 20 or more full-time equivalent employees to offer their employees the opportunity to continue their group healthcare coverage under the employer’s plan, if the coverage would end due to employee termination, layoff, or certain other employment status changes (referred to as “qualifying events”). This includes any event that changes the employee’s eligibility for benefits except gross negligence. The continuation of coverage applies to surviving spouses, ex-spouses, and dependents of employees as well.
More information is available. Contact Claremont Insurance Services at 800.696.4543 or firstname.lastname@example.org.