Stop-loss coverage protects employers against excess and catastrophic claims… and while price is a consideration, it’s important to examine other factors, such as:

  • How long has the carrier been in business?
  • Is the carrier financially sound? What is its A.M. Best rating?
  • Is the carrier a direct writer or does it use a managing general underwriter (MGU) to underwrite your stop-loss policy?
  • How early do they “lock in” rates at renewal?
  • Do they “laser” individuals at renewal?
  • Do they have a “no new laser at renewal” rider? If so, what is their renewal rate cap?
  • Has the carrier ever eliminated an individual from coverage at renewal?
  • Does the carrier offer flexible deductible levels?
  • Does the carrier “mirror” its policy to match your employee benefit plan document?
  • What is the carrier’s claims accuracy and turnaround times?
  • What is their reputation in the marketplace?
  • Does the carrier give credit for risk-reducing plan features, such as an effective wellness/disease management program, proven Rx risk reduction strategies, and TPA cost containment programs?

MedBen is here to help. We have been working with stop loss carriers for over 30 years and can help answer any questions you may have regarding a specific carrier or what products they may have to offer.

If you do have questions, contact the MedBen Sales & Marketing Department at 888-627-8683.