A. The Contractor will provide Stop Loss Insurance Services. B. The Contractor must maintain a rating financially sound with an AM Best rating of A- or higher. C. The Contractor must implement the plan(s) with an effective date of October 1, 2024. D. The City or its agent reserves the right to audit the Contractor’s performance by reviewing pertinent records and documentation, including clinical records, subject to appropriate confidentiality requirements. E. The stop loss insurance is for claims incurred in the 24-month period and paid in the 12-month period immediately preceding the end date of the contract period. The Contractor agrees to provide specific stop loss protection to the policyholder for a catastrophic loss per individual claimant with an attachment point of $300,000 and unlimited maximum and covers both medical and prescription claims.
