Category Archives: Illuminating Industry Jargon

Personalized Medicine: The Future Has Arrived

What if a simple blood test could predict your future? It’s a very real possibility, thanks to personalized medicine, also called precision medicine. Under this model, each patient’s medical care is completely customized and tailored to his or her DNA makeup. Personalized medicine can’t predict a person’s medical future with 100% accuracy, but it can help doctors identify potential roadblocks in their patients’ futures and develop treatments to target those roadblocks. Continue Reading >

A Helpful Guide to Stop Loss Insurance Industry Jargon

Insurance industry terminology can be confusing and overwhelming. In addition, Stop Loss insurance has its own set of jargon that can add to the potential confusion. We've come up with a list of terms you may come across when researching Stop Loss insurance to eliminate any confusion around insurance industry terms. Continue Reading >

Claims and Policy Management: What we do and why it is important

Stop loss insurance provides protection for your organization in the face of a catastrophic claim.   But, how do you know your claims are being paid correctly and your organization is being reimbursed the maximum amount? Your organization can certainly manage its own claims and policy, but working with an experienced broker is benefi Continue Reading >

Contract Periods: Run-in and run-out provisions

What will happen if a claim occurs during the first policy’s effective dates but is not billed until the second policy’s effective dates? Without proper planning you may not have anyone to turn to pay that bill. To solve this problem, run-in contracts and run-out contracts are available. Essentially you can create some overlap between your previous and new policy to cover any claims incurred in the few months surrounding your contract change date. Continue Reading >