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Another Carrier Offers Limitless Stop-Loss For Health Plans

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HM Insurance Group is offering unlimited lifetime maximum stop loss coverage for self-funded health care plans.

HM, a unit of Highmark Inc., Pittsburgh, is one of a number of insurers that in recent weeks are offering unlimited stop-loss coverage to help employers that fund their own health care plans meet the mandates of the new Patient Protection and Affordable Care Act. Among its many provisions, PPACA bans lifetime maximums for health care benefits.

HM is providing limitless policies for its new and renewal business, along with no annual maximums, subject to approvals by state regulators, the company says.

HM’s stop-loss coverage also meets other PPACA requirements, including dependent coverage to age 26 and the exclusion of pre-existing condition limitations. HM also says it will not change its rates.

It also announced it will not alter the way it pays qualified claims for policyholders who elect to participate in its early retiree reinsurance program.

HM’s announcement comes less than a week after the company said it plans to buy health plan stop-loss business from Mutual of Omaha. For more on that development, click here.