MyHealthGuide Source: Prudential Financial, Inc. (NYSE: PRU), 9/19/2024
NEWARK, NJ — Prudential Financial, Inc. has introduced a Stop Loss Insurance product aimed at helping protect companies with self-funded employee medical plans against catastrophic medical claim payouts.
“Self-funding medical plans can be a great way to save money and gain more control for employers, but it means taking on the potential risk from catastrophic claims,” said Jess Gillespie, head of Prudential Group Insurance Product & Underwriting. “Prudential is offering Stop Loss Insurance to help solve the No. 1 driver of employer benefit costs, which is their medical spend.” 1
Prudential’s Stop Loss product suite is available to employers with self-funded medical and prescription drug plans that cover at least 100 employees. That includes Specific Stop Loss Insurance coverage for medical and prescription drug claims as well as Aggregate Stop Loss Insurance for medical, prescription drug, dental, vision, and short-term disability claims.
“We’re excited to help solve this financial challenge for employers,” said Jon Trevisan, head of Group Insurance Distribution. “We have a strong brand backed by Prudential’s strong financial position. We also have nearly 150 years of expertise, competitive rates and flexible policy options which will be attractive to employers.”
Prudential has added new members to its dedicated Stop Loss team, including Robert Melillo, vice president, head of Stop Loss Distribution, and Keshav Nair, vice president, Stop Loss Operations. “We’re building a dedicated Stop Loss distribution team to bring a consultative, problem-solving approach to our clients’ complex Stop Loss challenges,” said Melillo.
About Prudential
Prudential Financial, Inc., a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of June 30, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for nearly 150 years. Visit prudential.com.
