Medical stop loss insurance can be purchased on either an aggregate or specific basis to protect health plans against adverse claims experience – on either a group (aggregate) or individual (specific) basis. Specific stop loss is more appropriate for plans like the city’s, protecting it from large individual claims that can create significant funding and rate spikes. With a current per claim deductible of $225,000 and the PPO hospital contracts that the City has established, the use of stop loss protection is infrequent; however, in Fiscal Year 2014, the City was reimbursed nearly $300,000 for a large individual claim, protecting the self-funded medical plan from significant losses. Renewal of this insurance was accomplished with the assistance and advice of the city’s health insurance broker/consultant – L/P Insurance Services. Ten (10) companies were sent offers to bid, with eight (8) opting out and/or not providing competitive rates. Companion Life Insurance Company was chosen over our current vendor National Union Fire; by bidding $317,302, seven percent (7%) less than our current provider’s bid.