What is Aggregate Stop-Loss Insurance?
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Patriot Ledger - U.S. Health Options article
8/5/2009 3:19:00 AM
Medical costs are skyrocketing. In response, the federal government is debating a dramatic overhaul to the country’s health care system.
But one Quincy-based insurance underwriter thinks Congress has it all wrong. William McKelvey of Hingham claims he’s found a better way to lower costs and improve care.
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Specific Stop-Loss insurance covers individuals just like a high deductible plan. Aggregate stop-loss covers the entire group for an amount under the specific limit. As an example: a group with 25 employees with a $5,000 deductible would have $125,000 worth of exposure if all employees filed a maximum claim amount. The aggregate policy can limit this risk to something more manageable like $50,000.