Stop-loss coverage is no longer just a safeguard – it’s essential for protecting your plan against escalating financial risk. Between 2013 and 2024, the frequency of claims exceeding $2 million grew by more than 1,250%, underscoring why having strong protection in place has never been more important.
Equally critical to having stop-loss coverage is choosing the right carrier. Employers should weigh key considerations in three areas:
Financial Strength & Experience
- Years in business
- A.M. Best rating/financial stability
- Direct writer vs. MGU model
Coverage Flexibility
- Available riders
- Credit for wellness, Rx, or TPA cost-containment programs
- Experience with high-cost conditions (e.g., gene therapy)
Claims Support
- Advanced funding on large claims
- Monthly accommodation options
- Speed of adjudication and reimbursement
As this list suggests, selecting the right carrier can be complex. For more than 35 years, MedBen has partnered with best-in-class carriers to deliver solutions tailored to each employer’s needs. Our team answers questions, evaluates carrier offerings, and shops the market to ensure your coverage provides the best value.
Have questions about your stop-loss coverage? Connect with your broker or MedBen Marketing – we’re here to help.