For employers offering health insurance, which is a growing trend due to governmental regulation, there are choices to be either fully insured, where an insurance carrier assumes all the risk for any medical, healthcare claims of employees or self-funded. Organizations who self-fund in part or in whole, assume this responsibility and its risk with regard to employee healthcare claims. The concept of self-funding initially causes concern for many organizations, questioning why you would they want to assume such risk. The bottom line answer of course is money. The benefits of self-funding can be significant for organizations that understand the concept, understand their risks, know their employees, and partner with the right broker. Alliance Insurance Group is a leading brokerage agency serving this field with the experience and expertise to help you design a plan which maximizes your potential for savings, while minimizing and controlling risks.
Many larger employer groups offer a partially or totally self-funded medical plan. For these groups, having adequate protection against the potential for multiple, high dollar claimants is essential. Our team of Benefit Consultants are well versed on the various types of Stop Loss products needed to mitigate risks, and which strategies work best in specific circumstances.
Our Benefit Consultants will analyze your claims data and work with you and your team to determine the appropriate level of risk for your organization, as well as manage how and where any excess risk above your level should be allocated. Pricing/cost is generally the biggest factor in purchasing Stop Loss protection; however, other factors should also be considered such as...the deductible structure, a carrier's reputation, claims paying ability and history, etc.
We are experienced in providing traditional methods of Stop Loss, in addition to more advanced and progressive types of policies. Our experience includes but is not limited to:
Please contact our office and ask to be directed to a Benefits Consultant that can explore your company’s compatibility with this routinely rewardable risk mitigation strategy.