Symetra Life Insurance, a subsidiary of Symetra Financial, will offer unlimited annual and lifetime benefits with its medical stop-loss insurance coverage.
According to the company, the option will be available on all new and renewed stop-loss policies effective September 1, 2010 or later.
Medical stop-loss policies are purchased by employers with self-funded health plans. Employers pay for medical claims up to a certain deductible, and the stop-loss insurance carrier covers claims payments above that level. Symetra has been serving the stop-loss market since 1976.
Michael Fry, senior vice president of Symetra’s Group division, said: “The combination of self-funded plans and medical stop-loss insurance is an attractive choice for many employers seeking to control continued rising healthcare costs. We believe self-funding for companies with 100 or more employees is still the most efficient model for delivering this important employee benefit.
“Symetra’s unlimited benefits option is designed to protect employers from catastrophic risk and help them meet their obligations under the new healthcare law.”