Insights from Amy Hartigan, Vice President, Claims, Berkley Accident and Health In an era of rising health care costs and increasing scrutiny over fiduciary responsibility, Berkley Accident and Health has introduced a forward-thinking solution to help employers safeguard their self-funded health plans. The Payment Integrity endorsement, now included automatically on all new and renewal Stop Read More
This is the second article in our Stop Loss Basics series. If you missed our first article, you can read it now: Understanding Leveraged Trend. Many Stop Loss providers offer Rate Caps as an option to their customers. What is a Rate Cap, anyway, and should you select one for your Stop Loss policy? The Read More
When selecting Stop Loss coverage, experience can be a critical factor, significantly affecting the quality, reliability, and value of your coverage. Here is why working with an experienced insurance carrier is a smart decision for policyholders: 1. Greater Accuracy in Risk Assessment and Pricing Experienced insurers have tried-and-true methodologies for underwriting with limited data. In Read More
Medical inflation continues to outpace inflation in the rest of the economy.1 This creates headwinds for employers in every industry. What is not as commonly known is that medical inflation affects Stop Loss carriers more severely than self-funded employers, which has a downstream impact on the Stop Loss rates. Let’s examine why this happens and Read More
Berkley Accident and Health is committed to improving the way employers fund their health care benefits, using a more transparent, flexible, and controlled approach. In November 2024, we launched PBM Checkup, an innovative program that helps Berkley’s Stop Loss policyholders gain insight into their prescription drug costs. We asked Theresa Galizia, Chief Underwriting Officer and Read More
When you buy a health insurance policy, you’re joining a risk pool. Your insurance premiums and claims are mingled with all the insurer’s other customers. Even if your health plan is running well, your premiums may go up if everyone else’s plans are running poorly. That’s because you’re sharing the risk and sharing the results. Read More
Navigating rising health care costs can be a significant challenge for companies, especially small and midsize employers. At Berkley Accident and Health, we are committed to helping companies offer affordable, quality health benefits through Group Captive programs. Group Captive programs offer a way for small and midsize firms to self-fund, just like large corporations do. Read More
GLP-1, or glucagon-like peptide-1 drugs, are a synthetic version of the body’s naturally occurring hormone that reduces appetite and slows down the rate at which food leaves the stomach. Originally developed to treat diabetes, GLP-1s’ popularity has skyrocketed because of their use for weight loss. In 2023, GLP-1s alone accounted for nearly 7% of the Read More