Stop Loss
Our stop loss product is a risk transfer product which is underwritten by and administered by various insurance companies.
Stop-loss enables an employer to “safely” self-fund their group health benefits by providing a fully insured product that transfers liability to an insurer once health claims have reached a pre-selected threshold. By limiting the employers’ financial risk, they can self-fund their health benefits worry free.
Stop loss thresholds begin as low as $2,500 per person. Our product ensures that the major health costs such as prescription drugs; private duty nursing and hospital accommodations are covered to reasonable limits thereby providing assurance that employees receive coverage for any catastrophic concerns. The DCM system tracks all information pertinent to the stop loss benefit.
DCM benefits provides stop loss pricing, application and contract that aids in producing quick, branded quotes.
The Benefits
- Coverage protects against large claims from any one individual or dependent
- Aggregate limit of $250,000, $1 million, and unlimited dollars per policy year depending on the insurance company chosen.
How it Works
- Once the deductible level is satisfied by an individual or dependent, the liability is transferred to the insurance company, in effect, determining the policyholder’s liability limit.
- Out of Province and Out of Country coverage that covers from the first dollar to $5 million dollars depending on the insurance company chosen.
What’s Best for You
What is best for you depends on:- Number of employees
- Limited company or incorporated
- Sole proprietor – self-insured
- Special needs
- Claims experience
- Location in Canada
- Out-of-country needs