MINNEAPOLIS--(BUSINESS WIRE)--TPAC Underwriters, Inc. (TPAC), a leading Managing General Underwriter focused on writing profitable business through creative reinsurance solutions, is excited to announce 20 successful years of its Spaggregate underwriting solution. Spaggregate, TPAC’s proprietary level-funded stop-loss product that is a blend of traditional specific/aggregate stop-loss and a fully insured program, is considered to be the original level- funded, aggregate-only stop-loss product and the first of its kind in the nation.
TPAC underwrote its first Spaggregate case in May 1999, delivering a truly level-funded product that ensured predictability of claims costs and the lowest maximum cost to groups—all without lasers. Throughout the past two decades of utilizing this innovative program, TPAC has underwritten more than 2,000 Spaggregate policies for over 750 employer groups.
Originating from a desire to formulate a better way to successfully underwrite low benefit plans, TPAC designed Spaggregate to help employers by establishing a fixed monthly budget for claims coverage within a client’s self-funded health plan. With foundational features including low maximum cost, no lasers, creativity in plan design, transparency, control and flexible contracts, Spaggregate offers the ideal combination of predictability, savings and control to meet every client’s benefits needs. Patrick Sanders, the President of IMS (Insurance Management Services), says, “The Spaggregate product has been a game changing funding mechanism for our clients since 2004, particularly those coming from the fully insured market.”
“We at TPAC feel an incredible sense of accomplishment with the success and savings our clients have experienced using our Spaggregate product throughout the past 20 years,” said Michael Meloch, President of TPAC. “Our goal has always been to provide unique underwriting solutions, and we plan to continue to drive innovation in the reinsurance market with Spaggregate and our other products designed to not only meet our clients’ needs but also optimize their plan spend.”
TPAC Underwriters, Inc. is a Managing General Underwriting firm located in Minneapolis, Minnesota. In business since 1991, TPAC works to write profitable, creative business with our reinsurers in Traditional Medical Stop-Loss, Spaggregate, and HRA/HSA plans through Third-Party Administrators, fully-funded capitated drug card programs, Life and AD&D products.
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