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
U.S. employees are facing new challenges while on the road, according to a new survey sponsored by Berkley Accident and Health.
Berkley Accident and Health is committed to helping our policyholders offer affordable, high-quality health benefits. One of the tangible ways we do that is through our Berkley Edge program. Recently, our Berkley Edge team was conducting a routine review for our policyholder, a well-known west coast symphony orchestra, when they came across the claim for Read More
Recently, our Berkley Edge team helped a Stop Loss policyholder lower the cost of an air ambulance transport for a patient suffering an acute heart attack. During a routine claim review, our Berkley Edge team noticed a client had not received any discounts on an air ambulance charge. Our team identified untapped savings and shared Read More
Financial savings arise for U.S. employers using captives to manage their health benefit plans. Jim Hoitt of Berkley Accident and Health explains how self-funded healthcare plans are better for employers than fully insured commercial health plans. More than 10 years ago, there was emerging interest among U.S. employers in a new concept: using group captives Read More
Since the start of the Covid-19 pandemic in 2020, health care costs have increased dramatically, and for 2022, it looks as though this trend will continue. PricewaterhouseCoopers (PwC) projects a 6.5% increase in health care costs for 2022.[1] While this is not as high as last year, it is still the second-highest increase since 2015. Read More
Cell and gene therapies are among the most remarkable – and costly – treatments in health care today. They have the potential to cure diseases once thought to be incurable, such as cancer, muscular dystrophies, and hemophilia. However, these benefits can come with an extremely high price tag. That’s why Berkley Accident and Health offers Read More
Containment strategies can serve as a blueprint for businesses looking to reopen By Caleb Unni, Marketing Strategist, Berkley Accident and Health The 2020 sports season was unlike anything we’d seen before. On March 12, we awoke to the NBA suspending its season after a Utah Jazz player tested positive. Later that day, March Madness was Read More
The onset of COVID-19 in the US has forced HR departments to adapt to a whole host of unexpected challenges as they navigate the new normal. For HR, a field that has historically relied on in-person interaction, this can be particularly challenging. Instead of face-to-face collaboration on recruiting, workplace issues and benefit changes, HR professionals Read More