Medical Stop Loss underwriting is a core business function of Elite UW, in conjunction with other underwriting services and products. We partner with A+ and A rated carriers for our stop-loss portfolio, assuring security and stability. Elite is able to offer a wide array of quality products and services, including medical stop loss insurance to companies in a variety of industries.
Medical stop loss is a form of insurance that provides protection against unpredictable or catastrophic losses, typically purchased by employers who have decided to self-fund employee health and benefit plans. Self-funding employee health plans is a good way to provide consistent and customized benefits to your workforce. Employers are able to receive cash flow benefits and improve their bottom line with the right financial controls. Companies rely on medical stop loss insurance when they do not want to assume 100% of liability for losses arising from plans. Under medical stop loss policy, an insurance provider assumes liability for losses that exceed certain limits. The difference between conventional employee benefit insurance and medical stop loss insurance is that medical stop loss insures the employer and not employees.
Elite Medical Stop Loss Program Features:
- Specific & Aggregate Stop-Loss for groups of 25+ lives.
- Specific Stop-Loss Deductibles starting at $25,000.
- Standard 12 month contract terms, including incurred & paid and run-in and run-out contract options, and the ability to offer non standard policy periods
- Unlimited Specific benefit maximums.
Aggregate benefit maximums to $5,000,000.
Please visit our Stop Loss page to learn more.
Elite Underwriting provides tailored medical stop loss insurance protection that meets your risk objectives, including aggregate stop-loss and specific stop-loss plans.
Specific Stop Loss: Is excess risk coverage that provides protection for employers in the event of a high claim of one individual. This protects against an abnormal severity of a single claim rather than frequent claims.
Aggregate Stop Loss: This form of medical stop loss provides a limit or ceiling on the amount of eligible expenses an employer would pay during a contract period. The insurance carrier reimburses the employer for aggregate claims at the end of the contact period.
Elite offers a number of variations for each product—most employers will want the protection of both Aggregate and Specific medical stop loss coverage. Occasionally, only specific stop loss will fulfill employer protection needs.
Elite specializes in working with our partners to offer unique programs and solutions to meet clients’ needs and help employers navigate the ever-changing world of self-funded benefit plans. Don’t hesitate to contact Elite should you have questions regarding our medical stop loss insurance.