Insurance industry terminology can be confusing to learn on your own. That’s why we’ve broken down the stop loss term “voluntary benefits” to ensure you grab key takeaways on the process.
Continue Reading >Industry Jargon: Voluntary Benefits
Stop Loss Industry Jargon: Lasering
Insurance industry terminology can be confusing to learn on your own. That’s why we’ve broken down the stop loss term “lasering” to ensure you grab key takeaways on the process.
Continue Reading >How Self-Insured Plans Can Avoid the High Cost of Gaps in Coverage
Stop-loss insurance is not health insurance, but rather a type of financial reinsurance. Unlike health insurance, stop-loss ensures protection from debt when payable claims exceed a deductible. Stop-loss and health benefit plans have seen an increase in disputes regarding what is payable, how much is payable, and what can be covered by stop-loss. This has in turn led to higher amounts of claims paid by benefit plan sponsors that are not covered by stop-loss insurance.
Continue Reading >What the Self Insurance Protection Act Does to Protect Self Insurance Rights
The Self Insurance Protection Act has provided protection through employer-sponsored insurance to millions of workers within the United States. As this bill continues through the legislative process to become law, self-funded employers need be following the movement of this monumental document for stop loss insurance.
Continue Reading >Questions to Ask When Hiring a Stop Loss Insurance Broker
Hiring a stop loss insurance broker entrusts the specialist with the betterment of your insurance and risk management. To ensure your stop loss insurance broker is acting in your best interest, certain questions must be asked during the hiring process.
Continue Reading >Opioids and the Issue of Rehab
As lawmakers work to improve the quality of healthcare and preventative solutions, the American healthcare system is left with holes that do not address the growing opioid epidemic. As opioid abuse increases, the number of self-funded employers footing the bill for drug abuse issues of employees goes up as well. Self-funded employers need to know how to protect themselves in the current political climate, should this situation arise.
Continue Reading >Are Specialty Drugs Worth the Money?
Specialty drugs can be up to 50 times more expensive than traditional drugs. Though specialty drugs have been associated with significant improvements in terms of good health over time, they are not without their faults. Are the positive effects worth breaking the bank?
Continue Reading >The Top 10 Catastrophic Claims in Self-Funded Plans in 2016
In July of this year, Sun Life Financial released its fourth annual Top Ten Catastrophic Claims Conditions report. In this post, we take a look at Sun Life Financial’s 2016 report and compare it to previous reports. Read on to gain insight on stop-loss claims trends that may affect your self-funded plan in 2017.
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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 >The Rise of Telemedicine
With the rapid advancements we are seeing in the healthcare and medical industries, telemedicine has become a relevant method of patient consultation. Telemedicine, which has been around for over a decade, initially received skeptical views. Many questioned its validity as a thorough alternative to actually coming in to see a medical professional. Now, it is poised to reinvent how we view patient consultations.
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