Large Amount Pooling

It has been hard to avoid the news stories in the last couple of years about rising drug prices and new drugs with very expensive price tags.  This is both great leap forward for those in need of treatment, and a cause for anxiety for sponsors of private drug programs.  One thing that it shouldn’t be is an opportunity for insurance companies to line their pockets.

Some of the insurers in Canada have taken advantage of the uncertainty around these drug claims to increase their rates by up to 20% beyond a reasonable level, and create disparity in premiums from one client to another.  While other advisors accept this as a reality of the market, HCG has taken action.

For clients who meet certain criteria and whose insurer is over-charging for Large Claim Pooling protection, HCG offers appropriately priced coverage without changing your insurer.  Our proprietary product allows us to place the Stop Loss risk with a separate insurer while having your claims paid by your current provider.

The result is lower costs for the benefits plan with no changes in your coverage or liability and with absolutely no change to the claiming process for employees.  The savings are permanent as there is no marketing investment by the insurer in our proprietary rates.  This means that the savings are sustainable from year to year, unlike those that are often received when marketing the entire benefits plan.

Some clients choose to re-invest these savings in expanding wellness programming or other benefits coverage, while others see it as an opportunity to offset rising costs in other areas of their benefits plans.

To see if your organization is eligible and would benefit from our Stop Loss Pooling product, contact HCG today.