Ximena Hoffmann· VP, Total Rewards, Meridian Health Systems
Posted in Minneapolis Chapter ·
Our renewal came in on Friday and the first number was 11.4 percent, on a self-funded plan covering about 4,200 lives. Two years ago I would have assumed that was an opening position. This time the broker tells me the trend is real and that specialty pharmacy, GLP-1 drugs in particular, accounts for nearly a third of it.
We absorbed most of last year's increase and I do not think we can do that again. Before I go to leadership I would like to know what other Twin Cities employers are seeing, and whether anyone has changed GLP-1 coverage without a revolt.
0 reactions · 3 replies · 4 views
Elif EriksenCRP, CBS
Job Architecture Lead, Ravenna Chemicals
Medical device company, 2,800 lives, self-funded. Initial renewal was 9.8 and we expect to settle near 8. We kept GLP-1 coverage for diabetes and, for weight management, added a requirement that members enrol in a coaching programme first. About 40 percent of people who started the process did not complete it. Complaints were fewer than I feared, perhaps a dozen.
Head of Reward, Tidewater Utilities
Retailer here, so a different population: lower wages, higher turnover, a lot of part-timers. Ours was 7.5 percent. We have held the employee share of premium flat for the lowest pay band three years running and loaded the increase onto the top two bands. It costs us, but enrolment among store staff went from 51 to 58 percent.
Elif EriksenCRP, CBS
Job Architecture Lead, Ravenna Chemicals
I would question the broker a little. Ask for the large-claimant detail before you accept that it is all pharmacy. When we did, two claims over 750,000 dollars explained almost four points of our increase, and neither was likely to recur. That changed the conversation with the stop-loss carrier considerably.
