ClaimSecure, in collaboration with Royal and Sun Alliance (RSA), will offer a monthly reimbursement for pooled claims above the stop-loss attachment level to plan sponsors.
“Traditional administrative services only (ASO) policies require plan sponsors to pay for drug and extended health claims throughout the year as costs are incurred and wait until year-end to receive their stop-loss benefit,” says Dave Wowchuk, ClaimSecure’s vice-president of sales. “The new monthly reimbursement schedule will alleviate any delay in cash flow.”
He adds that this will provide plan sponsors with support to protect them from the effects of high-cost drugs on their company’s cash flow.
The service is designed to help plan sponsors that require the cost savings and control afforded by ASO health and dental benefits plans while providing greater cost certainty and the safety of many insured programs.