A semiconductor device has a semiconductor die with a first conductive layer formed over an active surface of the semiconductor die. An insulation layer is formed over the active surface of the semiconductor die. A second conductive layer is conformally applied over the insulating layer and first conductive layer. Conductive pillars are formed over the first conductive layer. Conductive rings are formed around a perimeter of the conductive pillars. A conductive material is deposited over the surface of the conductive pillars within the conductive rings. A substrate has a third conductive layer formed over a surface of the substrate. The semiconductor die is mounted to a substrate with the third conductive layer electrically connected to the conductive material within the conductive rings. The conductive rings inhibit outward flow of the conductive material from under the conductive pillars to prevent electrical bridging between adjacent conductive pillars.