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Medical Stop-Loss Premiums Increased in 2022

Medical Stop-Loss Premiums Increased in 2022

1 minute read

Nearly 250 self-insured U.S. group health plans are seeing their average stop-loss coverage rise by 9.8% in 2022. This is according to Segal’s national medical stop-loss database of 2022 data. It’s an 8% increase from the 2021 data set.

Over the last two years, high-cost claimants with $100,000 or more in paid annual claims account for less than 1% of all claimants but 28% of total health plan claim expenses. Also, there’s an increasing number of drug therapies that exceed $1 million annually in prescription paid claims for a single person. These numbers underscore the value provided by stop-loss policies. Stop-loss coverage can provide asset protection and cost predictability, especially as the number and value of high claims continue to grow. This can be especially helpful to those smaller groups and those with modest cash reserves.

With the rapid rate of change in newly approved medical technology and procedures, employers need to ensure their stop-loss coverage policies align with their coverage needs. Download the bulletin for more details.

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National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Steve Smith

Steve Smith

Steve Smith is a powerhouse of energy, living by the mantra "work hard, play hard." As an expert in uniting teams for a greater purpose, Steve's innovative and creative strategies in employee health and wellness are game-changers. With over 25 years of expertise in health insurance, covering compliance, cost mitigation, utilization, analytics, wellness plans, and strategic planning, Steve is the go-to expert for driving down utilization trends and fostering a culture of well-being. His clients trust him to deliver exceptional results, making him an invaluable asset in the industry. As an Employee Benefits Consultant, Steve specializes in health care consulting for Minnesota public sector organizations including fully insured, self-insured, and stop-loss plans. Steve is a licensed insurance agent and holds the designations for Managed Healthcare Professional (The Health Insurance Association of America), Certified Patient Protection and Affordable Care Act Professional (National Association of Health Underwriters), and Group Benefits Disability Specialist (Hartford School of Insurance).