Understanding Medical Stop Loss
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It is no doubt that health care costs are continually on the rise; A fact that is on the mind of every employer who provides employee health care benefits. Catastrophic medical claims and high utilization rates can drastically impact the overall cost to employers who self-insure their employee’s health benefits. Medical stop loss is designed to help protect self-insured employers from absorbing most of the costs associated with such severe events.
Self-insured employers simply cannot afford to take chances!
GWI believes that choosing the right partner for stop loss insurance is critical, and that medical stop loss is a financial risk sharing relationship with our policyholders. GreenWood International Insurance Services, Inc. (GWI) underwrites medical stop loss on behalf of Federal Insurance Company, a member of the Chubb Group of Insurance Companies. With a solid financial foundation coupled with a strong track record of success, the Chubb Group of Insurance Companies have the commitment, experience, and financial strength of a proven leader for today’s self-insured employers.
GWI works with our consultants and Third Party Administrators (TPA’s) to develop:
- Cost effective quotes.
- Flexible coverage terms.
- Consistent renewal offerings.
Price is only one of several components to provide quality medical stop loss coverage. GWI provides specific and aggregate coverage for groups of 100 or more employees, aggregating specific coverage, as well as unique funding arrangements based upon group size and past loss history. GWI will also offer specific advance or specific aggregate accommodation for a nominal premium adjustment.
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