Have you ever thought about what you’d do differently if you could start an employee benefits program from scratch? For a benefits professional, this is a rare opportunity, as even in mergers, spin-offs, and redesign efforts, there are expectations and history with current employees that must be satisfied.
It’s fall and if you’re a benefits leader, you are probably gearing up for open enrollment and finalizing any new vendor implementations. Now is also the time when most self-insured plan sponsors need to obtain or renew a stop-loss insurance policy, a policy placed on a self-insured medical plan that reimburses the plan sponsor for claims exceeding specified levels. While straightforward on the surface, getting the details right in your stop-loss coverage can save or cost you millions.