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Stop-Loss
Most employers with self-funded health insurance plans purchase
stop-loss insurance (also called excess loss or reinsurance coverage)
to protect themselves from high claims. Stop loss coverage puts a limit
on an employer’s financial risk. There are two types of stop-loss 
insurance—specific
and aggregate—which are usually purchased together. MedCost Benefit Services
works with clients and consultants to recommend quality stop-loss carriers
and contracts. Our stop-loss partners provide us with maximum discounts
due to our integration of PPO networks, health management programs, and
claims administration.
In addition to Best’s ratings, MedCost conducts its own ongoing
quality review of stop-loss partners’ performance, including their underwriting
philosophies, average claims turnaround time, and the carrier’s/underwriter’s
reputation in the market. This assures that the stop-loss insurance we
recommend will consistently meet our clients’ needs and requirements.
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MedCost
thoroughly evaluates each carrier and Managing General Underwriter
(MGU) based on highly selective criteria. We only partner with
stop-loss carriers that have received an A or A+ rating from A.
M. Best Co., whose independent, third-party ratings are recognized
worldwide as the benchmark for assessing insurers’ financial strength,
stability, and operating performance. |
