Imagine an employee benefits plan that is flexible, transparent, and allows your organization to retain unused claims dollars. Alternative risk embodies that vision.
Instead of buying insurance for health-related expenses such as office visits, office procedures and maintenance medication, self-funded plans pay these expected claims as an expense and buy stop-loss insurance for the unpredictable claims. Aggregate stop-loss protects self-funded plans from overall high frequency of claims in any one plan year, while specific stop-loss provides protection from high individual or catastrophic claims.
The aggregate attachment point, or maximum claim liability, is determined based on a corridor (usually 120%) over total expected claims. The specific deductible is determined based on the size of the group and level of risk an employer is willing to accept.
Alternative risk offers financial leverage and stability through a proven track record of performing significantly better than industry standards. In an environment where inflation for medical and prescription costs has been rising, alternative risk programs could provide an answer.
Times may be turbulent for health insurance, but by considering alternative risk options, you gain a partner and a program with proven results and a plan of protection for the challenging road ahead.
Contact the ALT/r team to explore your options.
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