Aug 7 2010
OptumHealth today announced that it will offer an unlimited lifetime benefit for specific coverage as a standard provision of its excess loss insurance policy.
“OptumHealth's stop loss coverage is recognized as one of the most comprehensive in the industry”
New and renewal excess loss policies with effective dates of October 1, 2010 and later will include this enhanced benefit. It is designed to assist employer self-funded health plans as they implement the requirements of the Patient Protection and Affordable Care Act, which prohibits lifetime dollar limits on essential health benefits. OptumHealth's excess loss policy provides self-funded employers with protection from catastrophic risk incurred by individual plan participants or resulting from excess utilization from all plan participants.
"OptumHealth's stop loss coverage is recognized as one of the most comprehensive in the industry," said Diane Wells, vice president for the Stop Loss business of OptumHealth Specialty Benefits. "We are committed to supporting health plan sponsors with an excess loss policy that is consistent with the coverage provided in their self-funded plans, and to supporting their implementation of new plan designs that enhance benefits for their members."