Pharmacy benefits captive introduces new supplement

RXPharmacy Assurance, a Vermont-domiciled sponsored captive managed by Marsh Captive Management, has introduced a new stop-loss supplement for their self-funded clients across the US.

RxPharmacy Assurance’s sponsored captive solution provides a unique solution in the stop-loss industry: a supplement specifically designed to safeguard against potentially catastrophic specialty claims.

In an environment of spiralling prescription drug prices, RxPharmacy’s self-insured clients who meet the membership eligibility requirements can form a cell within RxPharmacy Assurance’s sponsored captive.

Building on its initial service provision, RxPharmacy’s new solution is aimed at protecting clients’ plans against future lasers. It will also help brokers and plan sponsors to negotiate improved stop-loss premiums, more affordable rates for clients, and to guard against sharp premium increases.

‘This solution can help brokers reduce their self-funded clients’ total cost of risk, offering them a way to limit their speciality exposure, potentially negotiate lower stop loss premiums, and make their prescription benefits more affordable,’ explained Paul Fortunato, senior director of clinical initiatives at RxBenefits.

Commenting on the supplement’s intent and its future, Fortunato added: ‘The RxPharmacy Assurance supplemental policy is designed to provide employers with coverage where traditional policies may have limitations. We will continue to examine the potential for variations of coverage to meet the needs of different market segments as well as modifications with the coverage limits to address changes in the marketplace.’

RxPharmacyAssurance is a sister company of RxBenefits, a technology-enabled pharmacy benefits optimizer (PBO).

Captives as reinsurance companies play a central risk management role for large international operating companies....
MORE
We examine the prospect of placing Directors’ and Officers’ (D&O) liability coverage – AKA ‘Side...
MORE
Thomas Keist of Swiss Re discusses the current interest levels in parametric solutions for captives....
MORE
Once a fairly unknown concept, after the last few years parametric solutions and their uses...
MORE
Victor Puleo of Butler University tells us about the Davey Risk Management and Insurance Programme;...
MORE