| Aggregate Stop-Loss: |
Aggregate stop-loss insurance limits the overall annual claims liability by
reimbursing the company when the claims paid for the self-funded plan, as a whole,
exceed a certain preset level. |
| Attachment Point: |
For aggregate stop-loss insurance it is the point at which the stop-loss
insurance carrier reimburses the employer based upon the cumulative total of
claims paid within a contract period. |
| Contract Period: |
The time covered under a contract designating when a claim is incurred and
when the claim must be paid to qualify for reimbursement. |
| Plan Year: |
The 12-month period in which deductible and co-insurance accumulates toward
a plan participant's out of pocket maximums. |
| Reinsurance: |
Another term for stop-loss coverage. |
| Run-In: |
Claims incurred prior to a plan year but reported after the end date of the
plan year. These claims can be paid under the "current year" contract that
includes the run-in period and the current plan year claims. |
| Run-Out: |
Claims incurred during a plan year but reported after the end date of the
plan year. These claims can be paid under the "prior year" contract. |
| Specific Stop-Loss: |
Individual or specific stop-loss insurance provides reimbursement in the
event an individual plan participant has claims that exceed the specific
deductible during a contract period. |
| Specific Deductible: |
The amount of claims for which the plan is responsible for on any one
individual in a contract period. |
Great Bend, Kansas 67530