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Legal System Abuse and the Illusion of Predictability

… European system. That means aligning governance expectations with how losses actually develop, not how they should develop. It means recognizing claims handling discipline and procedural management as channels for financial control. It means designing programs, capital allocation, and litigation strategy that can absorb volatility rather than explain it away. And it means recognizing that surprises persist not because the risks are unknowable, but because too many programs are still calibrated to assumptions that no longer hold. Looking Ahead: Tort Reform’s Potential Impact In June, we will examine how current U.S. tort reform efforts could offer concrete solutions …

https://www.epicbrokers.com/insights/legal-system-abuse-predictability/

Transforming Healthcare: The Potential and Pitfalls of AI

… training data” and generate new data accordingly. If you have used a chatbot like ChatGPT or Copilot, then you’ve benefited (hopefully) from generative AI. With this explosion in the use of AI have come mixed reactions. Legislative Responses During the 118th Congress, there were many bills introduced addressing AI risks, such as perpetuating discrimination and bias, giving inaccurate information, undermining privacy, and enabling disinformation. States are not waiting for federal action. Several states have proposed or passed bills related to issues such as AI algorithmic bias/discrimination and the use of AI in employment decision tools. California’s SB …

https://www.epicbrokers.com/insights/artificial-intelligence-healthcare-potential-pitfalls/

Benefits Curve | How to Plan for GLP-1 Medications in 2025 and Beyond

Learn about employee benefits business risks – and how to get ahead of the curve – with key insights and actionable takeaways from our team. Stay tuned for fresh topics every other month! Are you concerned about covering GLP-1 drugs on your employee benefits plan? Employers struggle with rising healthcare costs, and GLP-1 medications are a significant contributor. These powerful drugs for patients with diabetes and obesity come at a price tag exceeding $10,000 per patient annually. But there is hope! Discover how to optimize the use of GLP-1s in your pharmacy program. Our panel of seasoned pharmacists …

https://www.epicbrokers.com/insights/benefits-curve-august-2024-pharmacy/

Are Your Employees Asking About Weight-Loss Drug Coverage? They Will Be…

Viewpoints from Craig Hasday The press is full of headlines, fueled by celebrity endorsements, about the new miracle glucagon-like peptide 1 (GLP-1) weight loss drugs: Ozempic, Wegovy, and Mounjaro – and guess what? They work, with reports of as much as 15% of body fat loss achieved over a year or less. As we all know and have been preaching in our wellbeing initiatives, obesity poses significant health risks and financial burdens for individuals and employers alike. The average cost of GLP-1 weight loss medications, such as Ozempic, is approximately $14,000 per year. We also know that …

https://www.epicbrokers.com/insights/weight-loss-drug-coverage-viewpoints/

Large Claims Alarms Are Signaling Healthcare Cost Spikes

Viewpoints from Craig Hasday Regardless of your plan’s size or funding arrangement, prepare yourself. Large claims are coming. According to a QBE report, claims over $200,000 increased by 17% from 2020 to 2021. While it was harder to see through the crystal ball during the COVID-19 years, it is starting to get clearer again. This trend will continue. There are several factors in play. COVID-19 claims are expected to diminish, however, the cost of deferred care is emerging. Circulatory claims are on the rise, but more acutely, the cost of high-cost therapies is expected to …

https://www.epicbrokers.com/insights/large-claims-signaling-healthcare-cost-spikes/

EPIC Pharmacy Team Delivers the State of Specialty Drug Spend

Specialty Spend Is on the Rise Again EPIC recently unpacked everything you need to know about the state of specialty, with a specific focus on biosimilar and specialty generics. We continue to see double-digit increases in per member per year cost for specialty drugs, and nearly 40% of that spend occurs in the medical benefit. Rigorous management across both benefits is critical to managing overall specialty spend. This webinar uncovered what is driving increased spend and what you can do about it.  Agenda: Deeper dive into specialty spend and what you can do about it Emerging trends in biosimilar …

https://www.epicbrokers.com/insights/epic-pharmacy-team-delivers-specialty-drug-trends/

Why You Need a Specialist to Control Pharmacy Spend

… contributing to pharmacy cost inflation) while attempting to have tight reins on net costs. As drug costs go up, so do the rebates – increasing profits to the intermediaries in the transaction. The latest issue of Benefits Pro magazine highlights new versions of these maneuvers. Viewpoints from Craig Hasday With the rise of specialty medication prices, facilities and other providers have latched onto how profitable dispensing and billing for medications can be and often count on a percentage of their revenue from these transactions. While the majority of drug costs channel through the pharmacy portion of the insurance contract, an increasing …

https://www.epicbrokers.com/insights/you-need-a-specialist-to-control-pharmacy-spend/

Insuring Cryptocurrency Hedges Funds, Blockchain Venture and Private Equity Firms

According to Autonomous Next, a London based fintech research practice, digital asset hedge funds now number 251 as of August 2018; more than double the number in October of 2017. Many are small, buoyed by entrepreneurs who were part of the early days of Bitcoin’s prolific rise, but there are also very large funds with $1 billion plus in assets under management. They have sophisticated management with quality service providers for compliance, audit, fund administration, legal and accounting. These larger funds are helping to shape the regulatory landscape by working with the SEC, CFTC, NFA and FINRA. According to …

https://www.epicbrokers.com/insights/insuring-cryptocurrency-hedges-funds-blockchain-venture-and-private-equity-firms/