Stop Loss Insurance for Catastrophic Healthcare Costs

Employers, Healthcare Employers, Providers and Managed Care Organizations (MCO) typically have some form of Stop Loss Protection for Catastrophic Healthcare Costs. The Stop Loss Protection is obtained through purchasing the policy from an insurer or indirectly receiving the coverage through a contract.

Catastrophic Health Care costs are a major concern for all who are involved in the healthcare industry. High cost claims adversely affect the consumer, provider and manager of healthcare.

We strongly recommend that you take control of your client's Stop Loss purchases and not have them rely on a TPA or a contract with another entity to provide the protection. The risks are great and the financial consequences to your client's bottom line are significant.

The Wood Insurance Group specializes in the placement of Stop Loss Protection for Employers, Healthcare Employers, Providers and MCOs. We have expertise in the marketing and placement of Stop Loss Insurance. In addition to placing the coverage, we act as an advocate for the successful payment of their claims by the Stop Loss Insurer. We strongly believe in your client having as much of a direct relationship with the Stop Loss Insurer's claims department as possible. A strong relationship with the insurer's claims department leads to a better problem-solving environment in the future.

In addition to the Stop Loss protection, our insurers offer Transplant Protection and access to Tertiary Networks for special case rates.

Since the most recent Healthcare Insurance Crisis, more employers and providers are coalescing to form Coalitions or Alliances. Through these new organizations there are opportunities to arrange group purchases of Stop Loss or share risk in an attempt to lower the cost of the purchased Stop Loss Coverage. The Wood Insurance Group is very supportive of group purchases and sharing of risk to mitigate the cost of the purchased Stop Loss Insurance.

Types of Stop Loss Protection:

• Employer Stop Loss
• Provider Excess
• HMO Reinsurance
• Transplant Coverage

For more informaion, please contact David Wood, President, or Jodie Cole, Senior Vice President

Download an application here