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What is the difference between aggregate stop loss and specific stop loss?
Wiki User
∙ 16y ago
Aggregate stop loss has to do with Stop loss insurance when involved with all the employees at a set threshold, Spec. Stop loss is the singular employee's status of either staying under or over set stop loss threshold at a specific period in time.
Wiki User
∙ 16y ago
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Do you recommend aggregate stop loss or specific stop loss for self insured medical plans?
I advise you to go see Sicko! That will answer your question and give you more questions
What does medical stop loss mean?
Medical Stop Loss is a product purchased by employers that self-insure their medical plans. Under a self-funded health plan, the primary insurer is the employer and the stop loss carrier can be thought of as a reinsurer. There are two kinds of medical stop loss coverage, specific stop loss and aggregate stop loss. Specific stop loss protects the plan against large claims on individuals and aggregate stop loss protects the plan from having overall high paid claims.
Do you recommend aggregate stop loss or specific stop loss?
Aggregate Insurance insurers your total annual cost or exposure to self insuring your health insurance. Example if the total annual aggregate is 1 million dollars that means you as the risk taker will not payout more than 1 million dollars for the total cost of all your employees costs. Specific Stop Loss insurance is where it insurers the employer risk taker from total claims one one employee or their dependents. Example you could have a specific stop loss deductible of $100,000 which means if you have you have an employee or its dependent have a total health care costs exceed the $100,000 the insurer will reimburse you. If I had to chose one I would buy a specific stop loss over and aggregate, since it is the catastrophic unpredictable claim that an risk bearing entity cannot budget for. William Dyer hcpnational.com
What is the difference between discount and loss?
hi I'm Nivedita.the difference between discount and loss is discount is the reduced price whereas loss means the amount of money lost from the c.p.
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Loss Prevention is for retail stores to ensure that items aren't stolen either by customers or employees. Prevention of profit loss basically. Security is to ensure the safety and well-being of people in a specific place (i.e. mall).
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AAD stands for what in catastrophe excess loss reinsurance?
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Peril is cause of loss whereas hazard is condition which arises the chances of loss.
What is the difference between stop loss and non stop loss insurance claims?
When you have a stop loss you and you reach a claim over your amount. they will reduce your amount .
The difference between total revenue and total cost?
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