United Benefit Advisors Insight and Analysis Blog

The Different Types of Stop-Loss Explained

Posted by: Michael Humphrey, MLHR    May 26, 2015 4:02:39 PM

With the rising cost of health insurance and the need to provide coverage to employees, we have noticed many employers taking advantage of becoming self-insured. While being self-insured isn’t for everyone, there are definite advantages, such as the possibility of saving money – especially if you have a healthy staff. But self-insured employer groups typically can only self-insure to a certain level. In other words, they can only absorb so much of the risk associated with health care cost. Stop-loss insurance is an insurance product that provides financial protection against the high cost of catastrophic health insurance claims. Understanding the different types of stop-loss is one of the first steps in knowing if self-funding the right solution for your group.

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Topics: health care costs, The Wilson Agency, self-funding, stop-loss insurance, health care claims, Michael Humphrey, stop-loss, risk management