Cease Loss insurance coverage can shield self-funded employers who tackle the monetary threat of offering medical insurance for his or her staff. This is able to be particularly support towards giant, unpredictable or catastrophic losses from increased than thought claims.
Independence gives a complete method to self-funded clients’ well being plans, serving to shoppers stability and optimise well being care prices whereas enhancing their staff’ well being care expertise. The work with Solar Life is an indication of Independence being dedicated to its clients.
The Independence collaboration with Solar Life for Cease Loss insurance coverage will characteristic:
- customisable options with aggressive pricing and decreased charges for Independence Blue Cross teams;
- reporting with actionable insights to make it simpler for employers to make selections about their Independence self-funded plans;
- money move options with an advance funding programme to pay claims on the time they’re acquired, fairly than ready for a reimbursement test after they’re paid, and
- different new programme options to be launched sooner or later.
“We chosen Solar Life after a strategic search the place we evaluated their capabilities and partnership method towards different nationwide carriers,” mentioned Mike Sullivan, govt vp and president of diversified markets at Independence Blue Cross. “Ultimately, it was a shared imaginative and prescient on easy methods to finest meet the wants of our clients that made this the fitting match for Independence. With Solar Life, we are able to add much more worth to our employer teams plans.”
“We’re excited to associate with Independence Blue Cross on a risk-share settlement,” mentioned Jen Collier, president, Well being and Threat Options, Solar Life U.S. “Solar Life’s Cease Loss protection helps employers handle the excessive prices of care whereas persevering with to supply complete well being protection for his or her staff. Working with Independence Blue Cross will give self-funded employers in southeastern Pennsylvania a Cease Loss insurance coverage choice that helps drive each glorious care and environment friendly value outcomes.”
The collaboration will likely be efficient January 1 2024. As well as, choose advantages will likely be obtainable now via the top of 2023.
