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Million-Dollar Claims Continue to Rise, But MedBen Has Solutions

08/12/18

  04:24:00 pm, by MedBen5   , 230 words,  
Categories: Prescription, Wellness, Preventive care, Claims management, MedBen Rx, MedBen Rx Advocate, MedBen Rx Alliance

Million-Dollar Claims Continue to Rise, But MedBen Has Solutions

dollar sign magnified

The Affordable Care Act's elimination of lifetime benefit maximums has led to a surge in million-dollar medical claims, with the number nearly doubling in the past four years. It’s one more reason why MedBen is dedicated to developing savings strategies for self-funded employers.

The Sun Life Financial 2018 High-Cost Claims Report found that the number of patients with million-dollar claims rose 87% from 2014 to 2017. These claims added up to $935 million in paid charges, with cancer alone accounting for $798.7 million of that total.

Claims management is a critical element to countering high-costs claims, and MedBen’s advanced claims surveillance system has saved clients tens of millions of dollars over the last decade. But lowering costs doesn’t stop there.

A proactive savings approach begins with reducing the risk of cancer and other costly diseases from developing in the first place. MedBen WellLiving promotes the prevention and detection of chronic conditions through regular wellness exams and screenings.

Prescription drugs play an increasingly greater role in high-cost claims, and MedBen continually seeks out ways to combat rising drug prices. We recently introduced Rx Advocate and Rx Alliance, two programs that offer significant savings over traditional pharmacy plans. You can learn more about them at our new MedBen Rx website.

MedBen has 80 years of experience in saving clients money on even the costliest claims. Learn more by contacting Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

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