Types of Contracts

12/12 Contract

A 12/12 contract provides coverage for claims which are incurred in a 12-month period and submitted, processed, and paid in the same 12-month period. If, claims were submitted after the 12-month period, such claims would not be insured.

12/15 Contract

A 12/15 contract is designed to provide an additional three months of coverage or “run-out” in the event the contract is terminated after the first 12 months. This contract provides coverage for claims incurred in 12 months and submitted, processed, and paid in 15 months.

15/12 Contract

This type of contract provides coverage for previous claims from a prior self funded plan. These “run-out” claims extend back three months into the prior plan.

Paid Contract (24/12)

This type of contract provides coverage for a previous 12 months regardless of when the actual claim is incurred, submitted, or paid, provided that the group stays with the contract.

For more information, please contact us online or call us at 1-800-223-9941.