HM Insurance Group Offers Unlimited Lifetime Maximums for Stop Loss

Jun 23, 2010, 15:22 ET from HM Life Insurance Company

PITTSBURGH, June 23 /PRNewswire/ -- HM Insurance Group, a Highmark Company,  announced today that it is offering unlimited lifetime maximum stop loss coverage for self-funded groups to help employers meet the mandates of the recently enacted Patient Protection and Affordable Care Act (PPACA).

Effective immediately, new and renewal policies can be written with an unlimited lifetime maximum and no annual maximum, subject to state regulatory approvals.

"The elimination of coverage limits makes HM among the first of the leading stop loss carriers to issue policies that meet or exceed these critical PPACA mandates. We are offering this in advance of the required date for changes," said Michael W. Sullivan, president and COO of HM Insurance Group.

"HM offers plan designs with an unparalleled degree of flexibility that combine the employer's risk tolerance with cost-effective solutions," said Sullivan. HM will work with producers and TPAs to design stop loss coverage with various deductible intervals and reimbursement amounts up to and including unlimited maximums to help achieve optimal coverage levels that meet the PPACA requirements.

The other significant changes required by PPACA – dependent coverage to age 26 and the acceptance of employer plan documents that include waiving of pre-existing condition limitations, will be available with no change in rates.  Additionally, HM has determined that it will not take into account or in any way change the way it currently pays qualified claims for policyholders who elect to participate in the Early Retiree Reinsurance Program.

HM Insurance Group is a recognized leader in stop loss and reinsurance, offering employer stop loss, provider excess and HMO reinsurance. HM's product portfolio also features worksite/voluntary critical illness, accident, disability income and term life insurance as well as limited benefit medical plans.

HM Life Insurance Company and HM Life Insurance Company of New York have an "A-" (Excellent) rating from A.M. Best Company. Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains 25 regional sales offices across the country. For more information about HM Insurance Group, visit

SOURCE HM Life Insurance Company