Education Module: Medical Stop Loss for Employers

Health Rosetta Introduction Course Lesson 3: High-Performance Plan Design, Docs & Risk Management Education Module: Medical Stop Loss for Employers

Education Module: Medical Stop Loss for Employers

Speakers: Julie Bobak, Senior Vice President at OneBeacon Insurance Group – Accident & Health, and Christy Vago, Senior Vice President at OneBeacon Insurance Group – Health Sales

The reinsurance market, primarily known as stop-loss insurance, is purchased by fully-insured carriers and self-funded employers alike. It is the premium paid for the insurance company to accept the risk. In the self-insured model, stop-loss is the only insurance policy purchased, generally accounting for less than 20% of overall costs.

Self-insured plans can be a financial disaster of epic proportions if not implemented correctly. A benefits consultant in this space needs to know (1) how to set up a plan and build it out component by component and (2) how to put protections in place for the employers’ company to ensure the liability is no greater than the employer can financially stomach. A properly set up self-insured plan actually gives employers far more control of costs than a fully-insured plan. With stop-loss protection, it also lets them tailor their level of comfort with risk alongside the insurance premium.

Julie joined OneBeacon in 2016 as the head of underwriting for the specialty health segment which includes HMO reinsurance, provider excess and employer stop loss products. Julie held similar roles at Zurich as well as a National MGU where she had underwriting personnel management and P&L responsibilities. During her 13 years at Zurich, Julie was instrumental in the development of the managed care product platform and has over 25 years of underwriting management experience. Julie is a frequent speaker at industry conferences and has attained the Fellow, Life Insurance Management (FLMI) designation. Julie earned her B.A. at Ball State University.

Christy is SVP of Specialty Health at OneBeacon where she leads targeted distribution strategy that rewards brokers and clients that participate in member engagement programs. Christy has 25 years of experience in the health care space and understands the unique needs of the self-funded employer. OneBeacon provides Provides Excess, HMO Reinsurance and Medical Stop loss solutions. Prior to OneBeacon, Christy spent nearly 20 years at one of the largest TPA’s in the US with various leadership roles in Client Solutions, Operations, Acquisitions and National Accounts. She holds her BA in Business Administration and Marketing from Grove City College, PA and has earned her Health Insurance Associate (HIA) and Managed Health care Professional (MHP) designations.

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