Most often, employers, with the help of an agent or other industry expert, will negotiate with a PPO to provide services for the plan and rates will be set according to the group’s claim history. A Third Party Administrator (TPA) will be engaged to handle claims and processing.
Self-Funding and Stop-Loss Insurance Experts
Self Funded Health Plans and Worker's Compensation
Effectively Managing the Risk and Costs Associated with Employee Benefits for any size Employer.
Going beyond the basics in Stop-Loss Marketing to help you succeed.
Experience faster, better outcomes with our unparalleled renewal and claims service.
Maximize your benefits while reducing your costs and liability, and stay compliant.
More insurance products coming soon to protect your business.
WELCOME TO EXCESSIVE RISK SOLUTIONS
WHY CHOOSE ERS?
ERS is a managing general underwriting firm specializing in the placement of stop loss insurance for independent brokers and third party administrators, as well as employers directly.
With more than 30 years of Stop-Loss Underwriting and Marketing experience, ERS provides one of the most comprehensive, integrative approaches to Self-Funded Benefit Plans and Reinsurance Placement in the industry.
ERS' impeccable record and breadth of experience allows us push beyond the norms to place even the most difficult of risk situations.
Top managed care network/facilities, Provider Telemed services, online benefit management/ member services, extensive claims data and analysis.
Advantages of financially sound carriers, competitive premiums and commissions, as well as fast-turnaround when you need it.
Chuck Osborne, President of ERS
What is Stop Loss Insurance?
Stop-loss insurance (also known as excess insurance) is an insurance product that is purchased by employers who are self-insured, or, in other words, self-fund their own employee benefit plan(s). Self-funding simply means that the employer, instead of paying a premium to an insurance carrier, reserves a pre-determined set amount for future claims to be paid as they are incurred. In essence, with a self-insured plan the employer becomes the insurer. Self-funded employers always run the risk of claims that exceed collected premiums, and, in some cases, far exceed the company’s ability to pay. Stop-loss insurance protects the employer against such catastrophic or unpredictable losses.
How do self-funded plans work?
Why Should an Employer Self-Fund?
Customized Plan Design. Avoid cookie cutter plans and design the benefit plan how you want to better attract and retain talent and protect your employees. This includes contracting with the providers, provider networks, pharmacy and care managers that are best suited to meet the health care needs of your plan and employees.
Substantial Savings. Experience a significant reduction in taxes created with the implementation of the Affordable Care Act (ACA). Also, expenses such as risk charges, insurance company reserves, and most premium taxes are avoided. Additionally, when premiums collected are less than claims paid out, the difference can earn interest for the company.
Less hassle. Self-funded plans are governed by ERISA instead of complicated and conflicting state insurance law.
Why More and More Employers are Self-Insuring
With healthcare reform and the rise in healthcare premiums, employers are turning away from traditional fully insured plans and becoming self-insured. Even with the additional expense of stop-loss insurance, employers benefit greatly from a significant savings, increased cash flow, tax advantages and more control over the benefits the plan offers.