Commissioners sign application to renew stop‑loss reinsurance for county health plan
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Summary
The board authorized signature on the application to retain the county’s stop‑loss (excess loss) insurer at the existing per‑person deductible; presenters reported a modest overall premium decrease offset by additional covered lives.
County representatives presented an application for excess loss (stop‑loss) reinsurance renewal with the current carrier. The application keeps the same deductible — $160,000 per covered person as read in the meeting — and presenters said the carrier quoted about a 3% decrease in the per‑employee premium. The overall cost to the county was slightly higher than last year because the plan now covers more lives.
Why it matters: Stop‑loss coverage limits the county’s exposure to very large medical claims. Renewing with the incumbent carrier at the same deductible but with slightly lower rates per covered life was presented as the most favorable option after collecting market quotes.
A commissioner moved and the board authorized signature on the standard life and accident insurance company application for the excess loss reinsurance. Presenters noted that competing quotes would have increased the per‑employee rate.
Ending: The county will proceed with the renewal with the incumbent stop‑loss carrier and return any contract documents for execution as required by purchasing rules.