Selecting the right stop loss partner can help mitigate risk when navigating the complexities of high cost claims and rising market costs. The stop loss market has become increasingly complicated and costly due to frequency and severity of $1M+ claims continuing to rise, high cost claims are being heavily impacted by specialty drugs, and gene and cell therapy treatments that are rapidly emerging. These trends have:
- Increased risk for employers
- Required greater scrutiny of stop loss contracts and carriers
- Created a greater need to monitor high cost claims activity and find ways to mitigate current and future risk