RxPharmacy Assurance, a sister company of RxBenefits, has introduced a stop-loss supplement to manage high-cost specialty drug risk, which is now fully available to brokers and their self-funded employer clients across the nation.
A Vermont-domiciled sponsored captive managed by Marsh Captive Management, RxPharmacy Assurance enables self-funded employers access to a supplemental stop-loss product at affordable rates that provides safeguards from unexpected and potentially catastrophic specialty drug claims.
According to RxPharmacy Assurance, the solution can protect plans against future lasers and help brokers and plan sponsors negotiate improved stop-loss premiums.
Additionally, it affords self-insured employers that meet membership eligibility requirements the ability to access supplemental stop-loss insurance by forming a cell within RxPharmacy Assurance.
Paul Fortunato, senior director, clinical initiatives, RxBenefits, comments: “Self-funded employers are increasingly feeling the impact of the rising costs of specialty drugs and are in need of a complete solution.”
“Using stop-loss insurance on its own is like providing short-term and long-term disability coverage to employees, but only buying short-term disability insurance.”
“RxPharmacy Assurance is designed to fill the gap where traditional stop-loss insurance falls short. The RxPharmacy Assurance solution enables brokers to help self-insured employers of all sizes manage their risk and protect themselves from high-cost specialty claims,” Fortunato adds.
