Cease Loss insurance coverage can defend self-funded employers who tackle the monetary danger of offering medical health insurance for his or her workers. This is able to be particularly support in opposition to giant, unpredictable or catastrophic losses from increased than thought claims.
Independence presents a complete strategy to self-funded clients’ well being plans, serving to purchasers stability and optimise well being care prices whereas enhancing their workers’ well being care expertise. The work with Solar Life is an illustration of Independence being dedicated to its clients.
The Independence collaboration with Solar Life for Cease Loss insurance coverage will function:
- customisable options with aggressive pricing and diminished charges for Independence Blue Cross teams;
- reporting with actionable insights to make it simpler for employers to make choices about their Independence self-funded plans;
- money stream options with an advance funding programme to pay claims on the time they’re acquired, quite 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 strategy in opposition to different nationwide carriers,” stated Mike Sullivan, government vp and president of diversified markets at Independence Blue Cross. “Ultimately, it was a shared imaginative and prescient on methods to greatest meet the wants of our clients that made this the appropriate 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,” stated 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 workers. 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 might be efficient January 1 2024. As well as, choose advantages might be obtainable now by the top of 2023.