Hunt Valley, Maryland—In response to broker requests for HSA-compatible solutions, ArmadaCare is pleased to introduce Ultimate Health for HSAs and Plena Health for HSAs. These are the HSA-compatible versions of our successful, leadership-oriented solutions: Ultimate Health and Plena Health.
These supplemental hospital indemnity insurance products are designed to mirror the robust coverage offered in Ultimate Health and Plena Health, including inpatient care, outpatient surgery and services, Rx, wellness treatments, dental/vision coverage, executive physicals and more. While the payments for eligible medical expenses are made according to a fixed indemnity schedule, dental and vision coverage is reimbursed based on actual out-of-pocket expenses.
As the names suggest, hospital indemnity insurance plans are compatible with an HSA. They fall under the category of non-coordinated excepted benefits, which allows employees to contribute to an HSA if they have one.
Additionally, companies using these employer-paid insurance products can boost coverage for select employee classes as they choose. This enables them to strike the right balance between controlling benefit costs and recruiting/retaining talent.
Ultimate Health for HSAs and Plena Health for HSAs is approved in 17 states, with additional states pending.
A pioneer in the supplemental insurance industry, ArmadaCare creates and delivers specialty employee benefits backed by premier insurance carrier partners. Strategic benefit consultants recommend ArmadaCare’s innovative insured products to help employers meet the health and benefit needs of various employee constituent groups. Specifically designed to address limitations of primary coverage, ArmadaCare’s solutions provide tax-efficiency* and the ability to offer coverage tailored to the needs of select employee classes. In addition to offering coverage for various types of out-of-pocket healthcare expenses, many of ArmadaCare’s products include additional health support services and convenience features, all of which are delivered with ArmadaCare’s hallmark world-class service. Learn more at www.ArmadaCare.com.
*This is not local, state or federal tax advice as each person and company is unique. It is recommended that you seek the independent counsel of a professional tax adviser.
Underwritten by Sirius America Insurance Company