Stop Loss:
Limiting Exposure to Catastrophic Claims
Simply stated, insurance is a promise ~ a promise between policyholders and their insurance carrier. In these uncertain times, be sure that your insurance carrier is prepared and willing to honor its commitments.
Stop loss insurance is not a commodity. It is vital protection for sponsors of self-funded medical plans against catastrophic or unexpected claims. The cost of stop loss policies is often less than 5% of overall plan expenses, yet coverage options and carrier resources vary widely.
Self-funding is a model that offers many advantages to employers. Selecting the right stop loss partner is an important key to ensuring that your plan operates smoothly and cost effectively. We value long-term relationships and we work to collaboratively price each opportunity according to unique risk characteristics.
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Why Stop Loss with NorthStar ?
Rock-solid, financially secure insurers & reinsurers;
Direct access to underwriters with decision-making authority;
Collaborative risk selection and transparent pricing.
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Program Highlights
· Target market is groups with from 100 to 1,000 employees
· Available to for-profit and not-for-profit businesses
· An affordable solution ~ often less than 5% of overall plan expenses
· Specific and aggregate coverage programs are available
· Flexibility in working with the TPAs & PPOs/Networks of your choice
· Comparatively few excluded industries
Product Description
· Offered to employer groups, both for-profit and not-for-profit businesses
· Specific & aggregate coverage available
· Comparatively few excluded industries
· As state benefit mandates do not apply to self-funded plans ~ coverage is bespoke
· Our “best in market” approach allows us to work with a variety of TPAs & Provider Networks
Program Specifics
· Specific program per person excess maximum limit: $5 million [+ Layer(s)]
· Specific program per person minimum deductible: usually $15,000
· Aggregate program group minimum attachment point: generally 120% of expected claims
Approved in All States / All Jurisdictions