Symetra Celebrates 50 Years as a Leading Stop Loss Provider
Symetra Celebrates 50 Years as a Leading Stop Loss Provider
BELLEVUE, Wash.—Symetra Life Insurance Company marks its 50th anniversary in the stop loss insurance market, highlighting decades of aiding employers in safeguarding their self-funded health plans from high-cost claims and fluctuating medical expenses. The company initiated its stop loss services in 1976, during a time when self-funded health plans were gaining traction. These plans now encompass over 60% of U.S. workers, according to recent industry data. The emergence of specialty drugs and gene therapies has further underscored the importance of stop loss coverage in recent years.
Jeremy Freestone, Symetra’s Senior Vice President of Stop Loss Strategy, commented on the milestone: "We take pride in our commitment to supporting employers, brokers, and benefits professionals as they navigate the evolving healthcare sector with stability and innovation. Self-funding has grown in popularity and now serves organizations of all sizes. Our role as a dependable partner in managing risk remains unchanged, as does our dedication to aiding employers in the current complex healthcare environment."
Podcast and Microsite Celebrations
As a tribute to this significant anniversary, Symetra released a special episode of its Working Forward podcast titled "The Future of Stop Loss: Lessons From a Changing Market." This episode discusses the challenges faced during the January 2026 stop loss cycle, which saw an increase in medical inflation and catastrophic claims. Participants included Ron E. Peck from The Phia Group, LLC, and Mehb Khoja from BCS Financial Corporation, alongside Symetra’s leadership team.
Additionally, Symetra has introduced a microsite, "50 Years of Stop Loss," featuring a retrospective video, a timeline of key developments, and a collection of insights on stop loss insurance and the employer-sponsored healthcare industry.
Commitment to the Future
Looking ahead, Symetra remains committed to fostering innovation and maintaining financial strength as it helps employers navigate the challenging benefits landscape. Freestone stated, "Our mission continues to be protecting employers so they can support their employees. We're proud of our achievements over the past 50 years and are ready to tackle the next half-century.”
About Stop Loss Insurance
Stop loss insurance offers protection to companies with self-funded health plans by covering claims that exceed predetermined amounts. It reimburses employers for medical expenses incurred by individual employees or for unexpectedly high total medical claims.
About Symetra
Symetra Life Insurance Company, a part of Symetra Financial Corporation, has been in operation since 1957. Based in Bellevue, Washington, it offers employee benefits, annuities, and life insurance through a national network of consultants and insurance professionals. For further information, visit www.symetra.com.
Contact Information
Diana McSweeney
(425) 256-6167
diana.mcsweeney@symetra.com