Choosing the right stop loss coverage is vital for your company’s financial health. Bundling your stop loss coverage with medical coverage offers comprehensive protection and operational simplicity. Here's why this approach benefits your organization.
Coverage Without Compromise
With bundled stop loss coverage, you benefit from immediate reimbursement for medical claims that exceed the Integrated Single Limit (ISL) Deductible. There's no delay, no uncertainty — just prompt financial relief when it’s needed most.
Efficient And Transparent Processes
Bundled coverage simplifies the disclosure process. By eliminating the typical back-and-forth between third-party carriers, brokers, employers, and medical carriers, you can save time and reduce the risk of medical claims being denied due to lack of disclosure.
Plan Mirroring For Accurate Claims
With bundled coverage, your stop loss coverage can align seamlessly with your medical plan benefits. This means if a claim is paid under the medical coverage, it's covered by stop loss as well. This alignment helps prevent errors, simplifies administration, and ensures immediate reimbursement.
Cost Savings
When stop loss is carved out to a third-party vendor, there are carve-out fees, generally ranging between $3 – $6 PEPM, depending on your company size and other factors. By bundling stop loss coverage, you are able to simplify expenses and reduce administrative burdens.
Streamlined Billing And Administration
Bundling leads to a more straightforward billing process and better coordination between care and claims management. This reduces the complexity of managing your coverage, so you can focus on what matters most — your employees' health and well-being.
Dedicated Support
With a single point of contact for all your medical and stop loss questions, managing your coverage becomes easier and more efficient. You get the support you need, when you need it.
Access To Gene Therapy Solution
Consider stop loss products that come with additional advantages. Anthem’s stop loss products, for example, are enhanced by Gene Therapy Solution, which adds an extra layer of protection for self-insured employers. It also provides comprehensive care management for employees and their families dealing with rare and complex conditions. This whole health approach ensures that every individual's unique needs are addressed comprehensively.
Bundled stop loss coverage lets you simplify your protection strategy and focus on what truly matters — your employees.