One result of the recent health care reforms is that there will no longer be the individual lifetime maximums to which consumers have grown accustomed. This has important repercussions for companies such as Ryan A. Siemers's Aegis Risk, located in Alexandria, Virginia, which is a specialty insurance broker for self-funded employer health plans. Now, when a client comes to Ryan A. Siemers for a self-funded health plan for his company, the client also has to consider the possible effects on his business of an employee's catastrophic health costs. To guard against unmanageable expenditures, however, the client can obtain medical stop-loss insurance.

Having medical stop-loss insurance can quell one's fear of the possibility of runaway medical expenses. This variety of insurance would kick in when an employee has reached a certain level of expense as defined by the stop-loss deductible. At that point, the employer would no longer be paying the employee's medical bills.

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    January 2013