Friday, June 19, 2015

The Costliest Large Claims on a Health Plan

This is from Business Insurance, summarizing a study from Sun Life Financial on stop-loss claims:
The top 10 costliest conditions, which remained generally consistent with last year’s report, accounted for more than half of the total claims paid at 52.8%, Sun Life Financial said. In addition to cancer and renal disease, conditions included congenital anomalies, or conditions present at birth, premature births, congestive heart failure, cerebrovascular disease, pulmonary collapse or respiratory failure, medical and surgical complications, and septicemia. 
Sun Life Financial also said intravenous medications, which represented 13% of the total paid stop-loss claims in 2014, contributed significantly to the high cost of cancer claims, as half of the top 20 intravenous drugs are used to treat cancer. 
Transplants, which were the eleventh-costliest catastrophic claims condition during the four-year period, representing more than $41 million in stop-loss claims, have breached the top 10 list in the past two years, moving from the 10th-costliest condition in 2013 to the fifth-costliest last year, Sun Life said. ...