Full Underwriting Support And Affordable Stop Loss
Stop-loss insurance, which limits financial risks from high dollar claims, is one of the most critical components of any self-funded benefits plan. MedCost Benefit Services has a seasoned staff of underwriting professionals who work with you to arrange for high-quality stop-loss insurance through respected stop-loss carriers and Managing General Underwriters (MGUs). We offer full underwriting support for our clients and their staff.
An Experienced Partner You Can Trust
Using your health plan’s unique utilization patterns and our knowledge of industry trends, MedCost Benefit Services recommends high-quality stop-loss carriers and contracts. We evaluate your plan documents and establish “actuarially sound” COBRA rates and can recommend changes to plan documents at renewal. Optional Stop-Loss Insurance Agent-of-Record services also are available at no additional cost. This service includes an annual market study, cost/coverage analysis and stop-loss policy/Summary Plan Description comparisons to ensure no gaps in coverage.
Seamless Integration That Benefits Our Clients
MedCost Benefit Services is unique in that our claim administration, provider network and health management program systems are seamlessly integrated. This easy access to information means that our clients receive competitive quotes, significant discounts and less than eight-day payment turnaround on stop-loss reimbursement.
Strong Relationships With Preferred Carriers
We take seriously our responsibility to help you evaluate carriers and MGUs to ensure that you are receiving the benefits you deserve from strong, dependable organizations. We only partner with stop-loss carriers that have received an A or A+ rating from A. M. Best Co., whose independent, third-party ratings are recognized worldwide as the benchmark for assessing insurers’ financial strength, stability, and operating performance. In addition, MedCost Benefit Services conducts its own ongoing quality review of stop-loss partners’ performance, including their underwriting philosophies, average claims turnaround time, and the carrier’s/underwriter’s reputation in the market. This assures that the stop-loss insurance we recommend will consistently meet our clients’ needs and requirements.