Definitions for "Stop Loss Insurance"
Describes two aspects in insurance. The policyholder may be protected by a ceiling on the amount that must be paid out-of-pocket for deductibles and co-insurance for covered services and allowable charges in a policy year. A health plan may purchase insurance to protect the plan against costs that exceed specified levels.
An insurance policy purchased by a self-insured employer to reimburse the employer for claims paid on behalf of covered employees in excess of certain amounts. SUMMARY PLAN DESCRIPTION (SPD) The evidence of coverage required under federal law to be issued by a self-insured employer to its employees.
Insurance offered to medical groups and hospitals that hold managed care contracts. This insurance covers the policyholder in case its patients suffer catastrophic medical conditions beyond the standard and customary.