Cardiovascular disease (CVD) has risen to second place on the list of top stop-loss reimbursements, according to Sun Life’s annual report of high-cost claims – the first time the condition has ranked so high. As in past years, the report underlines the importance of promoting chronic disease prevention to your employees.
“The average cost for CVD claims increased 33% since 2020, which is higher than the increase in average cost across all medical claims.” Sun Life said in a press release.
As the chart below shows, 72% of all stop-loss reimbursements came from the top 10 high-cost medical conditions and 92% came from the top 20 conditions. Heart disease and cancers alone made up over one-third of total reimbursements from 2020 to 2023.
The report also notes that million-dollar claims continue to constitute a growing proportion of health care costs. On a claims-per-million-covered-employees basis, these high-end claims rose 8% over the past year, and are up 50% over the past four years.
By encouraging your plan members to be proactive about personal wellness, you take a critical step in reducing the risk factors that lead to million-dollar claims. MedBen WellLiving focuses on catching heart disease and other chronic diseases as early as possible… or better still, preventing them altogether. From 2019 to 2023, MedBen WellLiving clients spent an average of 11.4% less on heart disease claims than non-WellLiving clients.
Of course, a strong wellness program is just one way to control your medical and pharmacy costs. The 2024 MedBen Client Report highlights some of the many ways that we can help you lower your health care spend. Download the report and contact your broker or call us at 800-627-8683 for more information.