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AmeriHealth and Sun Life announce new Stop Loss insurance collaboration

By July 6, 2023July 10th, 2023Health Insurance

Protects self-funded employers from large, unpredictable health care costs

Cranbury, NJ — July 6, 2023 — AmeriHealth today announced a new agreement with Sun Life to exclusively provide Stop Loss insurance for the AmeriHealth self-funded group customers. Self-funded employers take on the financial risk of providing health insurance for their employees. Stop loss insurance can protect employers against large, unpredictable, or catastrophic losses from higher-than-anticipated claims.

“After carefully evaluating the benefits of an exclusive agreement like this and comparing multiple national carriers, we are excited to have selected Sun Life,” said Mike Munoz, market president for AmeriHealth. “Our shared mission of providing the best quality care to our customers is what made this fit right for AmeriHealth. With Sun Life, we can provide added value to our employer group plans.”

The collaboration with Sun Life for Stop Loss insurance will provide our self-funded customers:

  • customizable solutions with competitive pricing and reduced fees for AmeriHealth groups;
  • reporting with actionable insights, making it easier for employers to make decisions about their AmeriHealth self-funded plans;
  • cash flow solutions with an advance funding program to pay claims at the time they are received, rather than waiting for a reimbursement check after they are paid;
  • new program features in future months as AmeriHealth establishes Sun Life as the company’s exclusive Stop Loss partner.

“We are excited to partner with AmeriHealth on a risk-share agreement,” said Jen Collier, president, Health and Risk Solutions, Sun Life U.S. “Sun Life’s Stop Loss coverage helps employers manage the high costs of care while continuing to offer comprehensive health coverage for their employees. Working with AmeriHealth will give self-funded employers in New Jersey a Stop Loss insurance option that helps drive both excellent care and cost outcomes.”

The AmeriHealth agreement with Sun Life and all features will be effective January 1, 2024. Select benefits will be available now through the end of 2023 for new AmeriHealth self-funded employer groups who choose Sun Life for Stop Loss insurance.

About AmeriHealth

For nearly 30 years AmeriHealth* has been dedicated to enhancing the health and well-being of the people and communities we serve. AmeriHealth gives our members peace of mind knowing we have people who care, solutions that work, and next-generation technology to handle all health care needs. We offer one of the largest networks, robust health and wellness programs, and a wide range of affordable health plans to meet the unique needs of individuals, businesses, municipalities and organizations across New Jersey, Pennsylvania, and select regions nationwide. We also offer administrative services to self-funded groups. Named one of the Best Places to Work for the past 11 years, AmeriHealth is headquartered in Cranbury, NJ. For more information visit amerihealth.com.

*AmeriHealth Insurance Company of New Jersey | AmeriHealth HMO, Inc.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance, and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda. As of March 31, 2022, Sun Life had total assets under management of C$1.36 trillion. For more information, please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Sun Life U.S. is one of the largest providers of employee and government benefits, helping more than 50 million Americans access the healthcare and coverage they need. Through employers, industry partners and government programs, Sun Life offers a portfolio of benefits and services, including dental, vision, disability, absence management, life, supplemental health, medical stop-loss insurance, and healthcare navigation. Sun Life U.S. and affiliated companies in asset management employ approximately 8,000 people in the U.S. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information visit our website and newsroom.

Carly LePore

Carly LePore joined AmeriHealth in 2018 where today she serves as the organization's Corporate Communications Manager. She plays a key role in protecting and promoting the AmeriHealth New Jersey brand by providing strategic counsel on matters related to media relations, speaking engagements and public appearances as well as internal associate communications.

As a member of AmeriHealth’s Diversity, Equity, and Inclusion Council, Carly plays an integral role in helping cultivate a welcoming and inclusive work environment within the company.

Carly brings more than a decade of experience in public/media relations as well as corporate and associate communications. Carly earned her B.A. in public relations with a minor in sociology from Quinnipiac University in Connecticut.