Enables an employer to secure a maximum increase (Rate Cap) on their specific stop loss rates and guarantees there will be no new lasers at the next contract period in return for a premium surcharge (Option Premium). This option is available at the discretion of the underwriter and the Option Price and Rate Cap will be quoted upon request. It can only be added at the beginning of a given contract period.
- This option does not apply to Aggregate Coverage.
- Claims disclosure information is still required at the time of each new contract period.
- Lasers may be applied at the time the RSO Option is implemented and may carry over to subsequent contract periods regardless of whether the option is renewed or not.
- The Rate Cap does not take into account any contract changes, demographic changes or underlying plan benefit changes.
- If an Aggregating Specific Deductible option has been selected, the Aggregating Specific Deductible is subject to the same percentage increase as the specific stop loss rates.
- Availability of the RSO Option, Rate Cap and Option Premium for both the initial contract period and subsequent contract periods is at the discretion of the underwriter.