Stop Loss Insurance is an excellent means for employers to protect themselves and their employees from catastrophic loss. This insurance allots coverage of the employee’s “reasonable and customary” expenses for necessary medical treatment in the event of a catastrophic injury or sickness.

All employees up to age 75, single or family, with valid Canadian government health insurance plan coverage in effect and who actively work a minimum of 20 hours per week are eligible to receive Stop Loss Insurance.

Insurance Benefits

Stop Loss Insurance provides:

  • A $1-million aggregate limit per person, per sickness or injury, less a $3,000 deductible
  • The deductible can be rolled into an employee’s Private Health Services Plan, meaning it can be covered at no cost to the employee depending on their PHSP limit
  • Hospital coverage is exempt from the deductible, and covers up to 14 days in a semi-private room
  • Coverage for prescription drugs, paramedical services, and ambulance services with payment of the deductible as related to the catastrophic event