Physicians Insurance recently launched a new partnership to deliver Employer Stop Loss (ESL) insurance with state-of-the-market cost-containment services to Members. Through ATS Underwriting, Members have efficient access to top-quality Stop Loss solutions and services, backed by the financial strength and healthcare-industry commitment they have relied upon from Physicians Insurance A Mutual Company for decades.
ATS Underwriting is an innovative, strategic underwriting firm exclusively focused on Stop Loss. This partnership underscores Physicians Insurance’s commitment and holistic approach to protecting the financial health of Member organizations with the best possible expertise. “We have offered Stop Loss since 2002, but with the current marketplace dynamics, we are eager to hone this product area with the aid of their expertise,” says Jennifer Millar, Associate Vice President, Stop Loss, at Physicians Insurance. “The timing and the choice of partner could not be better.”
An Expanding Market
“Over the past decade, the Stop Loss market has seen exponential growth,” observes Andrew Trupiano, CEO and Founder of ATS Underwriting. “More healthcare organizations, and companies in all industries, have been migrating from the fully insured medical plans model to self-funded plans in order to gain better control over their plans and reduce their costs. As they make the move, Stop Loss insurance is essential to cap employee medical claim costs and protect their balance sheet against the volatility of outlying severe and catastrophic medical claims.”
Technology has also opened the door for more healthcare organizations to take advantage of Stop Loss protection. “With more medical insurance data and more advanced predictive analytics, ESL underwriters are able to get their arms around the risks of smaller organizations that previously had limited ability to move out of fully insured arrangements,” Andrew explains.
The rapid rise of the Stop Loss market is also a testimony to its advantages. “ATS Underwriting works with producers and customers to drive down annual medical costs,” Andrew notes. “We deploy a host of cost-management vendors and specialized claims professionals who help uncover savings in every claim and keep renewal premiums attractive for insureds. The alternative, with fully insured programs, can be a hefty increase at plan renewal with no transparency around what’s driving it.”
A Shared Focus on Excellence
Andrew and Jennifer both knew their partnership was a great fit early on. “Like Physicians Insurance, ATS Underwriting is a very purpose-driven organization with values that align with ours,” Jennifer says. “While industry consolidation is creating larger and more bureaucratic organizations, they remain agile and independent—seasoned professionals at a privately held enterprise.”
Andrew agrees. “Like Physicians Insurance, we center around the highest service standards and a focus on building lasting relationships with our producers and customers,” he says.
With Employer Stop Loss from the Physicians Insurance and ATS Underwriting partnership, healthcare organizations will benefit from specialized underwriting, claims, and cost containment, backed by the financial strength and Member commitment of Physicians Insurance.
As Physician Insurance Members, insureds can also take advantage of the mutual company’s array of value-added online risk management services, including:
- Risk Resource Library—a searchable and sortable library of articles, guidance, customizable sample forms and letters, and other tools to support risk management.
- Education Library—online access to over 200 courses (many accredited) that are geared toward helping physicians, nurses, and staff mitigate risk.
HR Hero—a multitude of employment-practice resources, including employee handbooks, checklists, and staff training, to reduce workforce-related risks. - Cyber Center—an online portal to support Members in preparing for, investigating, and responding to cyber threats arising with the delivery of healthcare. The portal includes sample policies, risk assessment resources, team training, incident response tools, and tabletop exercises.
Practice and Facility Management—practical guidance, webinars, and insights from partner PYA on a variety of practice-management topics, including compliance, reimbursement, and compensation. - Self-guided Risk Assessments—a toolkit, including best-practices tips and a medical record review audit tool, to support the independent assessment of areas of potential risk within a practice.
When they face a claim, ESL customers can also have the confidence that their insurer is predisposed to protect them. “If something is up for interpretation, our inclination is always to benefit our Member,” Jennifer says. That’s a philosophy shared by ATS Underwriting—and one that helps to explain their more than 90 percent renewal rate in the ELS space.“
“With Physicians Insurance, we look forward to enabling more healthcare organizations to optimize the cost savings and balance-sheet stability of ESL solutions,” Andrew says.
To learn more about our Stop Loss offerings, contact Andrew Trupiano at atrupiano@atsunderwriting.com or (774) 641-8306 or Jennifer Millar at jenniferm@phyins.com or 206-343-7300.