HR Academy Course #3: Catastrophic Claims and Impact to Benefit Plans
Many employers are facing another year of rising health care costs without a clear picture of what is driving the increases. Did you know that heath care costs are concentrated among a relatively small percentage of high cost claimants whose claims are $50,000 or more in one year? Whether your benefit program is self-insured or fully-insured, your program costs are impacted by these claimants. In order to better understand the burden of high cost claimants, Sun Life Financial has published a research report about catastrophic claims. As a result of this research, employers can learn more about the drivers of costs and the strategies designed to control them while improving employees’ health outcomes. This course will help HR professionals understand:
- The importance and value of benchmarking, as well as the key components of the Sun Life Benchmark Report
- Medical and RX trends (top 10 catastrophic claim conditions, breast cancer trends, transplant developments, and million dollar claimants on the rise)
- The impact to fully-insured renewal calculations
- Market insights and best practices – what can employers do?
Senior Stop Loss Specialist