What specific and aggregate contract types are available?
• 12/12…….Incurred & Paid in 12 Months • 12/15…… Incurred in 12 Months & Paid in 15 Months • 15/12…… Incurred in 15 Months & Paid in 12 Months • 24/12…… Incurred in 24 Months & Paid in 12 Months • Paid………Paid in 12 Months Spectrum will consider other options on a case-by-case basis. (Back to Top) 32. Will Spectrum offer incurred & paid (12/12) contracts at renewal? 12/12 specific contracts are generally renewed on a “paid” basis, which offers the greatest protection to the Plan and eliminates adverse selection against the carrier. In the event a 12/12 specific renewal is requested, the Insured must sign an acknowledgement letter that outlines the risk associated with a 12/12 specific renewal. Spectrum will renew 12/12 aggregate contracts on a 12/12 basis without the acknowledgement letter. (Back to Top) 33. Does Spectrum place claim dollar run-in limits on paid or run-in contracts? No. (Back to Top) 34. What is Spectrum’s minimum eligible group size?
