Does your rising medical budget feel like a treadmill set to ever-increasing speeds, devouring more of your Total Rewards strategy each year? High-cost claims (HCC) are becoming an unavoidable challenge, driven by the elimination of benefit caps due to health reform, surging stop-loss premiums and the rapid increase in the frequency and size of high-cost claims. The frequency of $1 million and $2 million claims has risen, with some gene therapies now averaging $2.5 million—and their availability continues to grow, rising from just two therapies to 14, with projections of 30 by 2027. Whether insured or self-insured, every plan faces exposure to high-cost claims, making it a question of "when," not "if." Even plans that have avoided such claims will eventually feel their impact. In this session, we’ll explore strategic, process, and design approaches to manage the growing financial risk of high-cost claims. Learn how to safeguard your Total Rewards budget and develop proactive strategies to keep your plan sustainable in the face of rising medical expenses.

Key Takeaways

• Learn practical options and strategies to minimize spending while securing essential services.
• Explore strategic responses and innovations that can break the cycle of rising healthcare costs.
• Implement effective communication strategies to engage employees and ensure successful adoption of any changes.