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Words related to reinsurance

sharing the risk by insurance companies

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said Wednesday on the floor of the House that self-insured plans and stop-loss insurance are popular with labor unions as well as with schools, cities, counties and other nonprofit employers, in part because the sponsors of the plans can do a better job than sponsors of fully insured plans of tailoring the benefits to fit the enrollees' needs.
Many employers with self-insured plans use stop-loss insurance, or insurance for insurance plans, to protect themselves against catastrophic losses, such as bills for organ transplants, or a large number of bills for enrollees who need to spend time in the hospital due to a flu epidemic.
By highlighting the conditions that create catastrophic claims and providing insights into trends influencing high costs, we can help employers anticipate what they'll see when self-funding and raise awareness about the importance of cost-containment resources and stop-loss insurance," says Brad Nieland, vice president of Sun Life Financial's stop-loss division.
ELMC owns, manages and seeks to acquire premier MGUs across the nation that specialize in underwriting medical stop-loss insurance for self-funded health plans.
The very big companies don't even bother with stop-loss insurance," says Robert Lowe, partner at law firm Mitchell Silberberg & Knupp.
Specific stop-loss insurance protects against a catastrophic loss incurred by any individual covered by the plan, with the deductible set at a level appropriate for the size and financial strength of the company.
In the United States, Sun Life Financial provides a range of products and services to employers and their employees, including group and voluntary life, disability, dental and stop-loss insurance products.
There is, logically, an insurance component in self-insured plans: Specific stop-loss insurance, which equates to a deductible for the employer (the larger the employer, the larger the deductible can be), and aggregate stop-loss insurance, which protects the employer and the plan in the event that there are huge "runs on the bank" in smaller claims over a 12-month period.
8220;Unnecessarily high attachment points of stop-loss insurance would reduce the economic benefits of self-insuring and throw employers back into the expensive traditional insurance marketplace,” he added.
SIIA), even though his duties would take time from his day job as one of the nation's leading marketers of stop-loss insurance for sponsors of self-insured employee group health benefit plans.
Healthcare reform requires that companies eliminate annual and lifetime limits on their coverage, a development that may encourage more self-insured employers to buy medical stop-loss insurance to guard against having to pay too much in claims.
A bill under consideration by Texas lawmakers to change the way the state collects revenues on stop-loss insurance carriers would raise the cost of plans for self-insured employers, according to lobbyists for the self-insurance industry.
Sun Life Insurance and Annuity Company of New York offers medical stop-loss insurance for New York state employers with self-funded medical plans.
Survey results also feature utilization statistics, including average bed days and admits per 1,000 members; statistics on stop-loss insurance premium amounts, attachment points and providers' purchase habits; capitation revenue and profitability trends; and contract characteristics.
Cairnstone Re managed employer stop-loss insurance and provided catastrophic claims management assistance to more than 450 self-funded employer groups covering 300,000 lives in the US.