IMG-Stop Loss has developed a stop loss product that limits the liability of a self-funded employer, and eliminates the pitfalls that many employers view as obstacles of self-funding. The advantages of the IMG-Stop Loss approach can be the difference between success and failure of a self-funded plan.
To download a PDF of our Advantages, please click here.
Experience
With more than 200 years of combined experience in the stop loss business (with a team of 13), the staff of IMG-Stop Loss is among the most qualified in the industry today. As a recognized leader in providing medical stop loss insurance, our vast experience enables our seasoned professionals to provide employers with the right stop loss solutions based on their specific needs.
Carrier Relationship
IMG-Stop Loss is the sole representative of Imperium Insurance Company in the U.S. stop loss market. Rated A- (excellent) by A.M. Best, Imperium Insurance Company offers the stability of a well-established insurance company. The instability of carriers can often be seen in the stop loss market. IMG-Stop Loss, however, maintains a strong relationship with Imperium and we have positioned ourselves to be the stop loss market of choice for the discriminating self-funded employer.
Underwriting
Our underwriting services enable us to offer employers the benefits packages that meet their specific needs:
- Stop Loss for the Small Employer - We underwrite coverage for employers with as few as 11 participating employees, and with specific retention levels from as low as $5,000.
- Guaranteed Renewal Offer - We guarantee a renewal offer at the in-force retention level.
- The "Firm Renewal" - We commit to providing our clients with renewal terms based on experience information that is complete through the 10th month of the current policy period. Once issued, those terms will be firmed up until 30 days prior to the effective date. If the client accepts our firm renewal prior to the first day of the 12th month, terms will not be affected by claims activity in the 11th or 12th month.
- Guarantee "No-Laser" Contract - We guarantee not to raise the specific deductible relative to an individual at renewal who may be experiencing on-going claims. Additionally, the terms for the renewal will not represent a premium increase that includes the entire expected cost of a known future excess claim.
Claims
We have developed claims procedures that protect the self-funded employer from cash flow issues that can result from unpredictable claim activity:
- Advance Reimbursement of Specific Excess Claims - The stop loss policy allows for immediate advance reimbursement of excess claim amounts once the specific retention has been funded by the employer.
- Paid When Received - We consider a specific excess claim as paid on the date it is received by the TPA, provided the group renews stop loss coverage.
- Extraordinary Claim Service - Excess claims are routinely processed and paid within ten working days from receipt of a complete claim submission.
- Monthly Aggregate Accommodation - We offer monthly aggregate accommodation with year-end reconciliation.
- ACH Claim Payment - Claim payment via ACH transfer is available for no additional charge.