is stop-loss insurance?
Often referred to as excess loss or reinsurance, stop-loss
insurance is an extra layer of insurance designed to protect
the employer from catastrophic losses. The two types of stop-loss
insurance are specific and aggregate coverage. Specific stop-loss
protects against specific claimant medical expenditures whereas
aggregate stop-loss covers expenditures for the entire group.
does self-funding work?
For employers, self-funding offers greater flexibility in
plan design, administrative procedures, and managed care choices.
Self-funding can also be advantageous from a cash-flow standpoint.
Rather than pre-funding claims by sending premiums to an insurance
company, under self-funding, employers fund their claims as
they are presented for payment, which could be weeks or even
months after a premium would have been paid.
do I request a quote?
In order for us to provide you with a competitive quote that
best fits your needs, please send us the following information:
- Current census including age, sex, and type of coverage
- Listing of all claims over 50% of specific deductible
level, including diagnosis/prognosis for the current and
prior two policy periods
- Current rates and carrier as well as current specific
deductible level and contract type
- Current schedule of benefits
- Renewal date
- Current broker or consultant