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Cancer Accounts For One-quarter Of Stop-loss Claim Costs

07/06/15

  03:58:00 pm, by MedBen5   , 192 words,  
Categories: News, Stop-loss

Cancer Accounts For One-quarter Of Stop-loss Claim Costs

operating room

A recent report from stop-loss carrier Sun Life Financial says that, based on an analysis of the firm's data from 2011-2014, various cancers accounted for the two costliest catastrophic conditions at 25.7% of the $2.1 billion paid to claimants. End-stage renal disease followed with 7.8% of total stop-loss claims paid.

Other costly conditions listed in the report 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. In total, the top 10 costliest conditions accounted for 52.8% of the total claims paid over the four-year period analyzed.

Just missing the over top 10: Transplants, which represented more than $41 million in stop-loss claims from 2011-2014. However, the number of claims for these procedures -- in particular, bone marrow and stem cell transplants -- has jumped in the past two years, moving them from the 10th-costliest condition in 2013 to the fifth-costliest last year.

Also noteworthy is that the number of individuals with claims of more than $1 million continued to grow. Cancer, conditions present at birth, and premature births accounted for 28% of all claims exceeding $1 million, according to the report.

Read more at Business Insurance (registration may be required).

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