What does Specific Stop-Loss Insurance mean? Read on to discover the definition & meaning of the term Specific Stop-Loss Insurance - to help you better understand the language used in insurance policies.
Specific Stop-Loss Insurance
Specific stop-loss insurance is a type of additional coverage that provides protection to self-insured employers or policyholders against a large health insurance claim from an individual employee. As opposed to aggregate stop-loss insurance, it does not apply to eligible expenses over a contract. Basically, it goes into effect once a claim goes beyond a specific threshold as stipulated in the stop-loss insurance policy.
We hope the you have a better understanding of the meaning of Specific Stop-Loss Insurance.