Optima Equity HSA and Design HRA Plans
We have recently updated the Summary of Benefits documents for our Optima Equity HSA and Design HRA Small Group Plans.
We value the partnership we have with our brokers, and strive to maintain open communication regarding your clients with Optima Health plan coverage.
Please be aware we have recently updated the following Summary of Benefits documents because they contained incorrect information:
- All 2017 Small Group (2-50 employees) Optima Equity Health Savings Account (HSA) and Optima Design Health Reimbursement Account (HRA) Plans
- All 2018 Small Group (2-50 employees) Optima Equity HSA and Optima Design HRA Plans
- All 2018 BusinessEDGE® Design HRA Plans
We removed the language: Any part of the Benefit/Contract year Deductible that is satisfied in the last three months of a Benefit/Contract year can be carried forward to the next Benefit/Contract year.
This was a language error only. All plans were filed, set up, and administered with a specific 12-month deductible dollar amount. With respect to the HSA plans, IRS Notice 2004-50 stipulates that adding a fourth-quarter deductible carryover on a 12-month plan would render the plan ineligible for an HSA. Under ACA and Virginia small group regulations, we are unable to make adjustments to these plans’ deductible amounts to administer a fourth-quarter deductible carryover.
We are sending letters of explanation, as well as reissuing contracts to affected group benefit administrators and EOC/COI documents to every employee covered under one of these plans.
We apologize for any inconvenience this may cause. Please contact your Optima Health representative if you have any questions.