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Mount Clemens votes to join group captive for stop-loss insurance; initial capital contribution discussed
Summary
The commission approved joining a U.S.-domiciled group captive to purchase stop-loss insurance after a presentation from health-care consultant Plant Moran; staff and the consultant said the captive can cap future renewal increases and requires capital contributions (capital contribution described as 10% of stop-loss premium).
The Mount Clemens City Commission voted to approve the city joining a group captive to purchase stop-loss insurance and to authorize required capital contributions after a presentation from the city’s health-care consultant, Plant Moran.
Plant Moran representatives described a captive domiciled in Tennessee that purchases stop-loss coverage for participating employers. Jonathan, a Plant Moran presenter, said the captive can reduce the city’s exposure to large renewals by capping renewal increases (he contrasted a typical 50% cap under the city’s current arrangement with a 30% cap available through the captive) and that the captive also offers access to shared cost-containment services such as patient…
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