Thanks Michelle!!! 619-367-6947 T    Outstanding, prompt and friendly service. As an HR department of one, I take advantage of the HR advice provided by BBG as well. An aggregate stop-loss policy covers all of the employees' medical claims that go over the deductible or financial limit. How it works: When a covered employee's medical claims exceed a predetermined limit, Unum reimburses the employer for the difference. Stop-loss is reached when an insured individual has paid the deductible and reached the out-of-pocket maximum amount of co-insurance. Keep up the GREAT work!! Regular assessments of the industry and the market to bring its business partners the best tools, strategies, resources, and expertise, are just a few of the "benefits" of BBG. Learn more about stop loss insurance and why it could be useful for your business. See also Excess of Loss Reinsurance, which SLR resembles. As an HR Professional, I have had an opportunity to work with several benefits brokers and BBG is by far a stand out. Stop loss insurance is not medical insurance, but rather a financial and risk management tool that can save you money and help protect against lawsuits resulting from the inability to pay. They were able to provide great benefits and cost saving for our employees as well! Great staff, always willing to go that extra mile to get things done for you. If you have self funding insurance, many industry experts consider stop loss coverage a must-have. W    Unlike conventional employee benefit insurance, stop loss insurance insures only the employer. This year, with BBG's insightful advice and patient guidance, we were able to save a significant amount of money at benefit renewal time while actually improving our offerings from the prior year. This field is for validation purposes and should be left unchanged. As stop loss insurance can contain confusing components, it is important to carefully read through the terms and conditions of your unique policy before going forward with your purchase. They provide excellent and timely service for all our corporate insurance needs. Stop loss insurance is not medical insurance, but rather a financial and risk management tool that can save you money and help protect against lawsuits resulting from the inability to pay. How Much Homeowner's Insurance Do I Need? You Need Insurance for Renovations, Parental Liability: When You're Responsible for Another's Actions. R    Stop-Loss Reinsurance (SLR) — an agreement whereby a reinsurer assumes on a per-loss basis all loss amounts of the reinsured, subject to the policy limit, in excess of a stated amount. We do not sell insurance products, but this form will connect you with partners of healthinsurance.org who do sell insurance products. We highly recommend BBG! However, without a health insurance carrier to pay for unexpected medical bills, the employer is left completely responsible for all qualifying medical costs. There are two main forms of stop loss insurance: specific and aggregate. In comparison, aggregate stop loss insurance provides employers with a ceiling on the dollar amount of any eligible expenses that they would be responsible for paying during a contract period. The employer and the insurance company agree on the fixed amount as a deductible. Great organization made up of great people. Also known as individual stop loss, this type of coverage is designed to protect against an abnormally high single claim rather than a high frequency of abnormally high claims. While some employers choose one type or the other, many employers can benefit from having both types of stop loss. If you are considering self funding insurance, then acquiring stop loss insurance should be high on your priority list. This can be done by setting aside a portion of the employer's income for health care of the employees and getting a stop-loss policy. The customer service that we receive is ALWAYS top notch; knowing that you will always receive a response from someone is very important and we know that BBG will give us that. Here's What to Do First, An Overview of Revenue Protection Insurance, Moving? Feel free to call us if you need support. Derek Winn, the Senior Benefits Consultant, is exceptional! What is hired and non-owned auto liability insurance? If an employer does not want to buy a group health insurance for his or her employees, then a stop-loss is an option that will save him or her from financial loss (or even ruin) owing to money that will be spent on employees' health issues. The Business Benefits Group is top notch. First, specific stop loss insurance provides employers with excess risk coverage to protect against high claims from any single individual. With stop loss insurance, an employer’s out-of-pocket costs towards employee medical bills are capped at an agreed amount. C    BBG is a great resource for me, they are customer oriented and always there when I need them. John A. Farrell III, HR Director, SHRM-SCP. In essence, this is a way for an insurance company to … Y    However, it is important to understand that this coverage is available in the form of a reimbursement, meaning employers are still responsible for making the initial payment. Read about Thank you BBG and here's to many more years of partnership. I appreciate our business relationship & highly recommend them to anyone looking for a broker! The service everyone at BBG provides is unparalleled- and they do it with a smile on their faces. O    You may submit your information through this form, or call There are not enough adjectives to say how great it is to work with BBG. Depending on the policy, there may also be some limitations. Not to be confused with aggregate stop-loss reinsurance. H    Here's How Your Insurance Needs Will Change, How to Get the Best Insurance While Self-Employed, 9 Hidden Insurance Perks Your Credit Card Provider Might Offer, 5 Different Types of Insurance and Who They're Best For. Take the time to talk with your benefits provider to ensure that you are going to receive the right amount of coverage. The depth of resources BBG provides is second to none. D    A    So happy I made the switch to BBG! If an employer is not able to cover the significant cost of one or more medical bills, he or she may even be forced to go out of business. I truly appreciate their dedication and expertise. Their relationship has been invaluable, and is clearly superior to systems that try to automate insurance and benefits consulting. However, many smaller companies with as few as 10 employees are beginning to see the benefits of self funding. It has been an auspicious pleasure working with BBG. Privacy Policy We highly recommend them and look forward to our continued partnership! Earlier this year we interviewed severally companies for benefits administration and BBG was hands down the best service and takes professionalism and service to whole nother level. They are a full service firm that doesn't just sign companies up for benefit coverages, they act as a strategic advisor to determine what solutions fit best for each company's situation and demographic. For example, a business with a young, healthy, and unmarried workforce will be less risky than a workforce of older individuals with family. If you are concerned about the rising costs of medical bills and how it could affect your company, stop loss insurance may be right for you. Working with BBG has always been a great pleasure. Learn more about stop loss insurance and why it could be useful for your business. G    Stop-loss insurance refers to an insurance that aims to protect an employer from losing income because of medical claims by the employees. BBG is an incredible business partner and our dedicated consultants act like extended members of our company's team. The dollar amount of claims filed for eligible expenses at which point you’ve paid 100 percent of your out-of-pocket and the insurance begins to pay at 100 percent. Once the contract has ended, the carrier then reimburses the employer. Their personalized service has provided outstanding cost savings for my organization while also providing rich benefits to my employees. F    We have tried out three different brokers and systems before selecting BBG and sticking with them. Overview. There are two types of stop-loss policies: individual and aggregate. In an industry that is ever changing, BBG is consistent in their level of service. Benefits providers often differ in how they treat recurring claims under stop loss. Even if you believe that your business is safe from these risks, stop loss insurance can provide you with the peace of mind that any unexpected medical bills are covered without causing you financial harm. contact us. BBG truly has top notch professionals that consistently provide excellent and proactive customer service.

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