Group Health Stop-Loss Program from Caitlin Morgan
As result of the Affordable Care Act (ACA), increasingly more mid-size employers are looking for alternative healthcare solutions, including self-funding group health plans. Self-funding enables employers to gain more control over their healthcare costs while benefitting from the fact that taxes, punitive fees, limitations and restrictions under the ACA do not apply to self-funded plans.
As specialists in captive insurance solutions, we at Caitlin Morgan Insurance Services have established Health Select, a stop-loss captive that groups together high-performing companies to provide cost stability and accountability in healthcare. With Health Select, employees gain greater control over their group health benefits, stay out of community rating under the ACA and get the benefit of lower rates.
Health Select is designed to provide mid-size employers – anywhere from 25 to 500 employers – with the benefits and cost-management tools typically available to larger self-funded clients.
How Health Select Works
Each participating employer has their own aggregate stop loss coverage to pay for claims up to a specific amount. If one employer exceeds their own individual stop loss, the remainder of the group will share in the loss up to a certain amount. The stop-loss carrier will pay for large catastrophic claims. Employees also have a selection of multiple high-deductible plan designs from which to choose.
Strong underwriting is behind Health Select with each group’s current risk evaluated. In addition, Caitlin Morgan is working with a top-tier TPA for its Health Select program.
All industries are eligible for the Health Select program. The key behind the program is the commitment of each employer when it comes to having similar benefit philosophies, health-management tools, including wellness, and best practices to gain the advantages available through a stop-loss captive.
Benefits of A Stop-Loss Captive
- Take control of your Health Benefits Plan
- Less volatility than traditional self-funded program
- Cost savings by joining other like-minded companies
- Receive back unused claim dollars normally retained by insurance carrier
- Share in benefits and premiums that only much larger companies would receive
We invite you to learn more about us and how we can help you expand your business.
Contact the experts at Caitlin-Morgan today and experience the benefits of working with a new kind of MGU and wholesale brokerage. For more information, call 317-575-4440 or complete the contact form on this page.