The offering allows employers to cap their healthcare spending and transfer the risk of catastrophic claims to Prudential Insurance.
The Stop Loss Insurance product suite includes both Specific Stop Loss coverage, which addresses large individual claims, and Aggregate Stop Loss coverage, which offers protection against high total claims across medical, prescription drug, dental, vision, and short-term disability plans. This comprehensive solution is available to employers with self-funded medical and prescription drug plans covering at least 100 employees.
“Self-funding medical plans provide employers with more control and potential cost savings, but they also come with the risk of facing costly claims,” said Jess Gillespie, Head of Prudential Group Insurance Product & Underwriting. “Prudential’s Stop Loss Insurance helps address the primary driver of employer benefit costs—medical spending.”
Prudential has bolstered its Stop Loss division by adding key team members, including Robert Melillo as Vice President, Head of Stop Loss Distribution, and Keshav Nair as Vice President of Stop Loss Operations. Together, they will lead a dedicated team to bring a consultative approach to employers, helping them navigate the complexities of Stop Loss insurance.
This new offering reinforces Prudential’s commitment to helping employers address their financial challenges and ensure that their healthcare plans remain sustainable in the face of rising medical costs.
“We are excited to bring this solution to market,” said Jon Trevisan, Head of Group Insurance Distribution at Prudential.
He added “Prudential’s nearly 150 years of experience, combined with competitive rates and flexible policy options, makes us a strong partner for employers looking to manage their medical costs.”
