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Old 03-22-2020, 01:21 PM
 
Location: Myrtle Creek, Oregon
14,759 posts, read 14,210,205 times
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Quote:
Originally Posted by Oldgorilla View Post
Sure it can. Do you think insurance companies have unlimited money?
My wife used to work for the Blues, and says they will be fine. Apparently they have some sort of stop-loss mechanism that limits their liability.
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Old 03-22-2020, 01:51 PM
 
Location: St. Louis
10,093 posts, read 18,307,506 times
Reputation: 14592
Quote:
Originally Posted by Larry Caldwell View Post
My wife used to work for the Blues, and says they will be fine. Apparently they have some sort of stop-loss mechanism that limits their liability.
And then who pays?
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Old 03-22-2020, 09:22 PM
 
Location: Massapequa
401 posts, read 300,600 times
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Quote:
Originally Posted by stepka View Post
And then who pays?
Us
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Old 03-25-2020, 10:50 AM
 
Location: Raleigh
10,067 posts, read 7,559,284 times
Reputation: 14225
Quote:
Originally Posted by stepka View Post
And then who pays?
Insurance companies have their own insurance, it's called Reinsurance. IN the case of Health Insurance it's usually called Stop Loss.

So BCBS may be the carrier with your job, but your company is really the insurer, BCBS just handles everything. Your company, within their contract with BCBS, probably has both individual Stop Loss and Aggregate Stop Loss. The Individual Stop loss is for the individual that needs a crazy amount of unexpected care. Aggregate is in case the entire company, as a whole, has a much higher than expected claims situation.

BCBS probably takes out a reinsurance policy for situations like this where they'll be paying out far more claims than expected.

Quote:
Originally Posted by Lagaroth View Post
Us
Actually, another insurance company. THey aren't talking about the policy limits, which are unlikely to be reached for individuals hospitalized with COVID-19.
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