Reinsurance Contracts

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Reinsurance Contract Types

Choosing the correct contract type for your group is a very important part of designing a health plan to meet your needs. You can rely upon BMI to help you in determining which contract will provide your plan the best protection at the most reasonable price.

Graph: Reinsurance Contract Types
  • Incurred and Paid: Claims incurred during the policy year are also paid during the policy year.
  • Paid: Claims incurred during the current and previous policy year are paid during the current policy year.
  • 12/12: Provides stop loss protection for claims incurred and paid within the 12-month contract period.
  • 15/12: Provides stop loss protection for claims incurred during the 12-month contract period plus 3 months prior and paid within the 12-month contract.
  • 12/15: Provides stop loss protection for claims incurred during the 12-month contract period and paid up to 3 months following the contract period.
  • 24/12: Provides stop loss protection for claims incurred during the 12-month contract period and paid up to 12 months following the contract period.

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