In 2005 Colorado Choice/SLVHMO introduced new products and services
to better meet our customer's needs.
High Deductible Health Plans (HDHP)
Colorado Choice/SLVHMO was the first Health Plan to design, market and sell
High Deductible Health Plans (HDHP) in the San Luis Valley. HDHP's feature
higher annual deductibles than other traditional health plans. Some of
these products qualify for HSA's and others provide front-end deductible
choices for many of the plans you may already be familiar with.
Health Savings Accounts (HSA)
Colorado Choice/SLVHMO realized early on the potential of comprehensive health
benefits with Health Savings Accounts (HSA), and they were the first
in the Valley with individual and group enrollments. HSA's provide a
tax-free way to help you build savings for future medical expenses when
coupled with a qualified HDHP. The HDHP/HSA gives you greater flexibility
and discretion over how you use your health care benefits. We work with
local banking institutions to provide our qualifying HDHP/HSA. Want to
understand more about HDHP's and HSA's? Click
here...
Third Party Administrative (TPA)
Third Party Administration brings another level of plan design options to
the large group market place. Available to clients in December of 2004.
This organization provides a full spectrum of insurance administrative
services, including claims administration, billing, generation of plan
documents, COBRA, HIPAA, full utilization management and the inclusion
of provider networks into the plan design. Our client base includes fully
insured and self-insured employer groups, associations and special markets.
Flexible Benefit Plans
Our Flexible Benefit plans allow tax-free salary reduction contributions
for many qualified family expenses including: Health insurance premiums,
out-of-pocket health care expenses, dependent care and HSA contributions
to name a few.
Health Reimbursement Arrangements (HRA)
Health Reimbursement Arrangements, allow for an employer to share in paying
for Health Care and other related expenses for its employees as a tax-free
company-paid benefit.
