WellPoint and RLJ Insurance Services today announced a strategic alliance that will enhance and expand WellPoint’s supplier diversity offerings.
WellPoint’s affiliated health plans and RLJ Insurance Services will work together to provide medical stop loss products and services to group customers who are seeking to significantly amplify their Minority Business Enterprise (MBE) participation allocation. Stop loss insurance (also called excess loss insurance and sometimes reinsurance) provides protection against catastrophic or unpredictable costs. Under a stop loss policy, the insurance company reimburses the employer for legitimate health claims that exceed certain limits.
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