MyHealthGuide Source: HCC Life Insurance Company (HCC Life), 5/17/2010, www.hcclife.com

ATLANTA — HCC Life Insurance Company (HCC Life), a leading carrier of medical stop loss insurance, announced its plans to incorporate the new requirements from recent healthcare reform into its policy prior to the required timeline.

Effective immediately, policyholders that amend their plans to cover dependents up to age 26, eliminate pre-existing for dependents under age 19, remove cost sharing from immunizations and preventative services, eliminate ER pre-cert penalties and remove referral requirements for OB/GYN care will not see a change in their HCC Life stop loss premium rates.

Plans that wish to change from their current lifetime maximum to an equal annual maximum to comply with the “reasonable” annual maximum regulations will not see a change in their stop loss premium rates.*

“HCC Life plans to remain at the forefront of healthcare reform as the requirements of new legislation become more defined,” said HCC Life President & CEO Craig Kelbel. “We will continue to educate our producers about healthcare reform and accommodate the needs of our policyholders to help make the transitions as seamless as possible.”

Any employer groups wishing to adopt required changes prior to the required deadline will need to submit to HCC Life their appropriate plan document amendment(s) or revised plan documents before implementation per the terms of their stop loss policy. More information is available at our website https://www.hcclife.com/medical-stop-loss-communications.

About HCC Life Insurance Company

For more than 30 years, HCC Life Insurance Company (HCC Life) has been leading the way in stop loss insurance for employers who self-fund their employee benefit plans. HCC Life Insurance Company’s products, including Medical Stop Loss, HMO Reinsurance, Medical Excess and Group Term Life Insurance, are backed by the financial stability of parent company, HCC Insurance Holdings, Inc. (NYSE: HCC), and hold a rating of A+ (Superior) for financial strength, awarded by A.M. Best Company ratings services. Visit www.hcclife.com.

*The determinations are based on the current legislation and the changes required in the immediate future. Should regulation be released by Federal agencies that we deem material, HCC Life reserves the right to reconsider how these changes affect our stop loss policy. HCC Life reserves the right to modify the terms of coverage if individuals currently not enrolled are added to the plan.

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This entry was posted by Adam V. Russo on Monday, May 24th, 2010 at 11:21 am and is filed under Health Care Legislation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.