Aggregate Stop Loss Insurance
Aggregate stop loss
insurance offers a policy that protects employers from catastrophic loss. The
policy will reimburse the employers for eligible claims in excess of a
predetermined amount at the end of the contract period. The employer has covered
his downside risk with a plan that makes sense – as well as dollars and cents –
for the company. In this economy, that’s what it is all about.
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Group Size: 50 employees
Annual Premium: $2,000.00
Aggregate Attachment Point: 115% to 130% of expected claims
Types: 12/12, 12/13, Renewal contracts are “Paid” contracts
Approval: Associations, Voluntary, Leasing Firms, Hospitals
- Minimum Aggregate
Attachment Point (MAAP): Based upon employee census on effective date and is
the point at which the carrier will reimburse the employer in excess of up to
the Maximum Benefit.
- Annual Aggregate
Attachment Point (AAAP): Based upon the employee census at the end of the
contract year and is the point at which the carrier will reimburse the employer
in excess of up to the Maximum Benefit. The greater of the MAAP and AAAP will
- Attachment Factors: Are
on an employee basis and, along with the monthly enrollment, determine the
Annual Aggregate Attachment Point.
- Minimum Annual Premium:
Premium that is 95% of the Estimated Annual Premium.
Benefit: Maximum Reimbursement amount of the policy.
- Estimated Annual Premium:
Premium based upon the current employee census.
- Periodic Premium: Minimum
Annual Premium divided into three installments.
- Earned Premium: Premium
amount based upon the actual enrollment at the end of the policy year.
- Contract Type:
- 12/12 Incurred and paid within the
- 12/13 Incurred within the policy period and paid within
the policy period plus one month.
- Administrative Allowance:
Provided to the entity who reports to us monthly on the claims and enrollment
for each month.