Rise in Claim Frequency of Neoplasms Impact the Self-Funded Market, according to QBE's Latest Accident & Health Report
As a leading provider of medical stop loss insurance, QBE leveraged its extensive claims database to analyze and share findings to help employers identify and mitigate risk.
The report, which is released annually, notes the frequency of medical stop loss claims exceeding
"Cancer claims are rising at an alarming rate," said
Claims data in this year's report also shows higher frequency from 2022 to 2023 for mental illnesses, exceeding the spike seen in 2020, with substance abuse being the main driver. Depression and anxiety have also notably increased.
In addition to medical stop loss claims trends, the report features a mix of QBE data and industry research to examine a range of topics and issues for employers to consider in their long-term claim financing and risk transfer planning, including:
- The rise of preterm birth rates
- New weight loss drugs: GLP-1 agonists
- Specialty pharmacy pricing innovations
- Cell and gene therapy advancements
- Legislative updates
- Medical stop loss captives
"More than half of covered workers are enrolled in self-funded healthcare plans, and medical stop loss insurance and related products continue to play a key role in providing employers the transparency needed to create tailored solutions that reduce expenses and protect employees," added Krauss. "Emerging trends – whether it be implications from new weight loss drugs, rising cancer rates or advancement in new therapies – will continue to challenge employers to curb the cost impacting their health plans. To further contribute to that conversation, QBE is pleased to release our annual Accident & Health Market Report."
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