Healthcare

Medical Stop Loss Insurance A simple solution for smart health plan sponsors

April 16, 2023

Stephanie Whalen, President of The Union Labor Life Insurance Company, shared our company’s expertise on the #stoploss #insurance market at an AM Best sponsored workshop.

Topics included the steady growth in the market, driven by employers switching to #selffunded from fully insured arrangements to finance their health benefits, a trend that is expected to continue. Also discussed was how the growth and evolution of healthcare brings certain challenges, including the demand for more tailored solutions, the need for better risk selection, and management of the growing volume of high cost and catastrophic claims. In addition to looking at how traditional stop-loss carriers are adjusting to new realities, the session covered the expanding roles of captives and reinsurers in the stop-loss segment.

It only takes a few critically ill members or dependents to strain your Taft-Hartley plan’s financial assets or, worse, deplete the entire health and welfare fund.

Medical stop loss insurance protection can help limit the impact of a potentially large financial liability. Stop loss insurance reimburses your health plan if claims exceed certain deductibles. This coverage provides an important layer of protection against large or unforeseen catastrophic claims that could threaten your fund or plan.

With 95 years of experience serving the union marketplace, The Union Labor Life Insurance Company is a carrier you can trust. Our expert underwriters and staff understand what it takes to protect Taft-Hartley plans. We offer broad coverage, quick policy installations and customer service that does not end once you have purchased coverage. When large claims do occur, we provide access to leading professionals in the medical cost containment industry, to help you manage plan costs through cost-effective care alternatives.

You can see more about stop-loss coverage at https://lnkd.in/e9SSDcMw.


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