Volume 06| June 06, 2018
RxReins is a dedicated Managing General Underwriter (MGU) specializing in prescription stop loss insurance for group benefit plans. We work closely with Brokers, TPAs and PBMs to provide the best available products from multiple A-rated carriers in all fifty states . RxReins is a member of the ELMC Risk Solutions family of companies.
MONTHLY NEWS AND UPDATES!
THE PROBLEM WITH PRESCRIPTION DRUG PRICES

"The Rockford File is the story of how one very expensive prescription drug threatened to financially cripple an entire city. That city is Rockford, Illinois, an old industrial town outside of Chicago. Rather than using a health insurance company, Rockford has, for years, paid its own health care costs for its 1,000 employees and their dependents. In 2015, two small children of Rockford employees were treated with Acthar, a drug that's been on the market since 1952. It's used to treat a rare and potentially fatal condition called infantile spasms that afflicts about 2,000 babies a year."

FIRST DRUG PRICED AT MORE THAN $1 MILLION MAY BE ON THE HORIZON

"The first U.S. price tag exceeding $1 million for a medicine is being contemplated as the nation's agita over the cost of prescription drugs climbs ever higher. New gene therapies that aim to cure hemophilia, a disease affecting the blood's ability to clot, are on the horizon. Leerink analysts said the treatments could cost $1.5 million or more.Treating hemophilia is costly. Some patients incur between $580,000 and $800,000 per year in medical costs; others even more."

FDA APPROVES NEW TREATMENT FOR RARE GENETIC DISEASE

"The US Food and Drug Administration has approved the subcutaneous injection Palynziq (pegvaliase-pqpz) for the treatment of adults with phenylketonuria (PKU), a rare and serious genetic disease that affects only about 1 in 10,000 to 15,000 Americans.
In PKU, the body is unable to break down phenylananine (Phe), which is commonly found in protein-containing foods and high-intensity sweeteners used in various foods and beverages. Palynziq was approved following 2 successful clinical trials of adult patients with PKU with blood phenylalanine concentrations greater than 600 µmol/L on existing management."

What exactly is Aggregate Stop Loss Insurance

 Aggregate Stop Loss Insurance
is a reimbursement contract that protects the employer from catastrophic loss. The employer is responsible for paying all Rx claims through the end of the contract period. Any Rx claims incurred in excess of a predetermined amount, also called the attachment point, will be reimbursed back to the plan at the end of the policy. The Stop Loss premium for an Aggregate Stop Loss contract is minimal, and is on average 2% of the attachment point.
To learn more, sign up for our webinar or visit our website. RxReins.com
RxReins, LLC | 888.797.3467 | Stoploss@Rxreins.coml | www.rxreins.com