SAN DIEGO / BOSTON – October 8, 2009 – Satori World Medical <http://www.satoriworldmedical.com> , a global healthcare company in the emerging medical tourism industry has formed a relationship with GreenWood International Insurance Services, Inc. <http://www.gwigroup.com/> (GWI), a Managing General Underwriter (MGU) based in Boston.
Through this relationship, GWI may offer its medical stop-loss underwriting services to employers that choose to offer Satori World Medical’s global healthcare program as an additional health plan benefit option for their employees. Medical stop-loss insurance is designed to help protect self-insured employers from absorbing a majority of the costs associated with high cost claims.
“One of the biggest considerations that U.S. self-funded employers have when choosing to offer medical travel benefit programs to their employees is the financial liability when an insured patient is traveling abroad for care,” said Satori World Medical’s President and Chief Executive Officer Steven Lash. “Satori World Medical’s relationship with GWI enables self-funded employers to ensure that international claims are provided for in stop-loss agreements. Our new working relationship with GWI is in direct alignment with our company’s core commitment to provide high-quality, cost-effective global healthcare programs, and the necessary contracts and services to enable employers to easily add our program into their existing employee benefit plans.”
Through its international network of highly trained and specialized doctors and Joint Commission International (JCI) accredited state-of-the-art hospitals, Satori World Medical provides an integrated medical travel benefit program that reduces the costs of selected surgical procedures by an average of 40-80 percent, including the costs of travel and hotel accommodations for the patient and a companion. The savings generated are shared with all stakeholders while a portion of the savings is deposited for the employee in a tax-advantaged Health Reimbursement Account <http://cdhc.ncpa.org/learn/what-is-an-hra> (HRA). Additionally, all out-of-pocket costs to the individual seeking care are waived. This medical benefit can be added to any health plan design at no cost to the employer or payor.
“The rising costs of healthcare continue to place a tremendous burden on U.S. companies,” added Joseph Sullivan, President of GreenWood International Insurance Services, Inc. “Therefore, we fully support innovative programs, such as Satori World Medical, designed to reduce the costs of healthcare across the board.”
About Satori World Medical
Satori World Medical is the world's first global healthcare network and service company specifically designed to deliver high quality healthcare services, share the tremendous cost savings with plan sponsors and their employees and coordinate all medical and travel services for individuals who need care. For more information about Satori World Medical, please call +1 (619) 704-2000 or visit the company's Web site at http://www.satoriworldmedical.com <http://www.satoriworldmedical.com> .
About GreenWood International Insurance Services (GWI)
GreenWood International Insurance Services, Inc. (GWI) is a Managing General Underwriter specializing in medical stop loss, group accident insurance, and occupational accident insurance. GWI is able to deliver superior customer service, flexible underwriting, and tailors coverage to the individual risk management needs of its clients, as opposed to the “one size fits most” approach of the competition. The company’s personal attention to their brokers and agents fosters strong relationships, which has given the company a long-standing reputation as a leader in the reinsurance and insurance industries. For more information, please visit http://www.gwigroup.com <http://www.gwigroup.com> .
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