HCC Life Insurance announced last week that they have reached an agreement with the world-renowned Mayo Clinic to provide transplant services to their medical stop-loss insurance policyholders.
“This agreement reinforces HCC Life’s commitment to offering our policyholders quality services that are unmatched in the industry,” said president and CEO Craig Kelbel.
Many employers choose to self-fund their health benefit plans, which is less expensive but can be risky in the event of catastrophic claim, the company said. Medical stop-loss provides insurance protection for those employers.
The agreement is the first of its kind for both organizations, according to the Mayo Clinic. One of the goals of the partnership is to demonstrate that care at the facility can be efficient and cost-effective while still providing the highest quality of care.
Businesses are increasingly seeing the benefits of a self-funded insurance plan. The Hartford Business Journal reported recently that CIGNA has recently partnered with Independence Holding Company to assist in the marketing of stop-loss insurance through third-party administrators who serve midsized to small businesses that self-fund their health benefits.
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