SYS-CON MEDIA Authors: Pat Romanski, Yeshim Deniz, Nikita Ivanov, Sean Houghton, Glenn Rossman

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HM Offers Stop Loss on Private Exchanges

Self-Insured Clients Can Find HM Coverage in New Health Care Marketplace

PITTSBURGH, Feb. 20, 2014 /PRNewswire/ -- HM Insurance Group now offers its stop loss coverage to employers participating on private exchanges to help groups to protect against catastrophic loss in this new marketplace. The move was made in response to many self-insured groups deploying their employee health plans through private exchanges. HM can cover groups participating in single carrier and multi-carrier exchanges, giving employers flexibility to build a plan that fits their needs.

"Regardless of the channel or enrollment platform a group decides to use, be it through a traditional channel or a private exchange, HM can provide the protection a group needs with our nationally recognized stop loss coverage," Mike Sullivan, president and chief operating officer, said. "As brokers develop private exchange solutions and assessments for their groups, HM stop loss can provide the traditional advantages of self-funding: control, plan flexibility and potential cost savings."

HM's 30 years of history writing stop loss over multiple payors allows the company to interface with many carriers and help employers to navigate catastrophic claims from different payors. This capability to write over split or 'slice' business extends from traditional stop loss into private exchanges.

Industry trends show that even self-funded employers seek to leverage the power of private exchanges to realize greater efficiencies, and the market is moving from an employer-driven model to a more consumer-driven one. HM is providing a solution to address these trends. Even with a self-funded plan using a defined contribution approach for employee benefits, plan sponsors need to protect themselves from the unexpected large or catastrophic claims that can arise when providing health care benefits.

HM's stop loss program is customizable to meet the needs of individual employers. This flexibility extends to the stop loss product offered via private exchanges. Learn more about HM and its leading stop loss product on hmig.com.

About HM Insurance Group
HM Insurance Group (HM), headquartered in Pittsburgh, Pa., works to protect businesses and their employees from the potential financial risks associated with health costs. The company's product portfolio provides producers with health risk solutions that address a range of risk situations confronting employers, employees, health care providers and individuals. A recognized leader in employer stop loss, HM also offers managed care and provider reinsurance, workers' compensation (Pennsylvania only) and group supplemental insurance – critical illness, accident, disability income, hospital indemnity and term life – nationally through strategic distribution partners and individual critical illness and accident insurance plans in Pennsylvania and West Virginia. Learn more at hmig.com.

SOURCE HM Insurance Group

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