Medical Stop Loss
Minimum Parameters
Minimum Size Group is 25 employee lives; minimum specific deductible is $20,000.
Product Features
We offer both specific and aggregate coverage. Specific coverage helps to protect the employer from large claims incurred by any eligible person. Aggregate coverage offers protection from an unexpectedly high frequency of claims below the specific deductible by all covered persons. We offer Specific Advance and Aggregate Accommodation for an additional nominal premium. We can include access to our network of business partners by request.
Quoting Requirements
- Group name, location, and nature of business.
- Effective date and due date (note GWI’s standard quote turnaround is 8 business days)
- Current & proposed TPA, PPO, Plan of Benefits, and Contract Type
- Census with sex, age, coverage status (single/family), and residential zip codes; Please provide in MS Excel format.
- Monthly paid claims and employee lives for the latest 18-30 months (without gaps). If fully insured, must provide 2 years of claim experience and average lives for each period, and a copy of the renewal letters for the current and prior year.
- Individual Large Claim amounts (50% or higher of the proposed specific deductible) with diagnosis and prognosis for the last three experience periods.
- Number of Stop Loss Carriers in the last 5 years
- Broker commissions percentage
Preferred Industries
Printing and Publishing
Communication Companies
Banking
Credit Agencies
Investment Companies
Business Services (SIC Code 7311 – 7389)
Engineering Firms
Accounting Firms
Textile Mill Products
Furniture and Fixture Manufacturer
Fabricated Metal Products
Machinery (SIC Code 3511 – 3599, 3612 – 3699)
Instrument Manufacturer
Wholesale Trade (Durable Goods)
Security, Commodity Brokers
Non-Preferred Industries
We at GWI believe that every risk has a price. If you are struggling to find terms for your client and are flexible with respect to risk structure, provide us the challenge.
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