Navigating the Future of Medical Benefits (Webinar Recap)
March 31, 2025
In this webinar recap, we highlight the key takeaways for navigating the evolving medical benefits landscape and how employers can stay proactive in their approach.
In this webinar recap, we highlight the key takeaways for navigating the evolving medical benefits landscape and how employers can stay proactive in their approach.
In recent years, the rising costs of employer-sponsored medical benefits have posed a significant challenge. Employers are left searching for the key drivers behind these escalating expenses and explore solutions to alleviate the financial burden.
Erin Tucker, President of Employee Benefits at The Miller Group, sat down with Senior Sales Representative Brett Lane from Voya Financial, along with Tracy Johnson, Director of Pharmacy, Benefits, and Jayson Cuba, Benefits Advisor, both from The Miller Group.
The group discussed the latest developments in pharmaceuticals and high-cost treatments, how rising claims are reshaping the stop-loss market, and actionable strategies to help employers keep medical benefits affordable.
Here are the main takeaways from the discussion:
Several trends, including inflation, behavioral health utilization, Centers for Medicare and Medicaid Services price transparency, and the No Surprises and Inflation Reduction Act, are driving the healthcare and pharmacy forecast. However, employers should be aware of the big impact that prescription drugs will have in 2025.
Pharmacy trend drivers for employers to look for include:
Stop loss insurance (also known as reinsurance) impacts both self-insured and fully insured plans. Stop loss can be impacted by catastrophic medical conditions and high-cost pharmaceuticals, which remain key drivers of escalating expenses.
In response, the stop-loss market is adapting, with carriers placing greater emphasis on federal and medical trends and leveraging artificial intelligence to stay ahead.
When addressing these challenges, cost containment strategies and programs are essential for employers to manage their budgets effectively.
For employers looking ahead, it’s essential to address the root causes of rising costs of medical benefits—whether they stem from medical or pharmacy expenses. Identifying key cost drivers and developing targeted education campaigns for employees can make a significant impact. Innovative solutions, such as carve-out programs and leveraging carrier resources, also offer ways to reduce costs while maintaining quality care.
Ultimately, employers must carefully evaluate their options, whether by exploring new carriers and partners or implementing well-being initiatives. With the right approach, innovative solutions are within reach.
Watch the full discussion to learn how to navigate the evolving medical benefits landscape effectively.
