Finance leaders who have sought to control employees' healthcare costs face a daunting challenge as prices of new specialty drugs continue to rise.
Accustomed to budgeting for annual healthcare costs that rarely exceed $1 million per employee, CFOs now have to plan for the possibility that an increasing percentage of their companies' workforce could incur healthcare costs closer to $2 million – or even as high as $20 million – per employee.
Such costs are likely to be untenable, particularly for employers that self-insure, without stop loss insurance. During this Webcast, we will outline what finance leaders need to consider when assessing risks of self-funding health insurance plans, including:
- How the introduction of specialty drugs is contributing to significantly greater costs for employers,
- Newly emerging risks that CFOs of self-insured employers can no longer afford to ignore, and
- The latest options and best practices finance leaders should know about in order to determine whether and how much stop loss insurance can mitigate these risks.
What will attendees learn?
- Why specialty prescription drugs are exposing employers to new, previously unheard of risks
- How employers can manage and mitigate those risks
Learn about Mercer and how we can add value to your bottom line through our innovative risk management solutions. We deliver cost-saving advice and technology-driven solutions that help organizations of all sizes meet the health, wealth and career needs of a changing workforce.
About the Speakers
Daniel Davey, Principal, Mercer
Daniel Davey is a Health & Group Benefits stop loss specialty practice leader and currently oversees Mercer's Stop Loss Center of Excellence. In addition to leading the stop loss specialty practice, which includes the placement of more than $1 billion in stop loss premium each year, he also contributes to a wide variety of projects for clients, including plan design, carrier selection and general strategy development.
Daniel earned a B.S. in Financial Economics from University of Maryland, Baltimore County and an M.B.A. from Rider University. He is currently licensed as a producer in life, accident and health authorities.
David Dross, Partner, Mercer
David Dross is the national practice leader of Mercer Health and Benefits' Managed Pharmacy Practice. The Managed Pharmacy Practice works with a broad cross section of clients whose total pharmacy spend is approximately $22 billion annually. He is based in Mercer's Houston, Texas, office.
Since joining Mercer, David has worked on a cross section of successful projects in the following areas:
- Establishment and ongoing management of 2,000,000-plus member Pharmacy Aggregated Purchasing Collective options
- Led procurements and contract renegotiations for Pharmacy contracts for large and midmarket companies
- Merger and acquisition analysis, including provider consolidation and plan design rationalization
David graduated from Vanderbilt University with a degree in Economics. He also has an M.B. A. from the University of Virginia. He founded and was the first president of the Low Country Chapter of the National Association of Health Underwriters.
Rich Fuerstenberg, FSA, MAAA, FCA, Senior Partner, Mercer
Rich Fuerstenberg is a senior partner in the New York office of Mercer Health and Benefits. Rich is Mercer's Non-Health Innovation Leader, responsible for developing new intellectual capital and product development in non-medical benefits, including life, absence, accident, disability, dental, vision and voluntary benefits. His focus is on solutions that increase the value of non-medical benefits to employers and employees, helping to deliver a more complete and integrated view of healthcare and group benefits.
When working with clients, Rich provides healthcare and group benefits consulting services across a variety of industries, including financial services, technology, hospitals, aerospace, media and pharmaceuticals. Rich has specialized expertise in the areas of pricing, vendor negotiations and employee benefits funding. Regarding funding strategies, Rich is Mercer's national expert in the use of captive insurance companies to reinsure U.S. employee benefits.
One of Rich's key issues is integrating life, absence and disability strategies with health and wealth management strategies.
In 1988, Rich earned a B.A. in Mathematics, cum laude, from Queens College of the City University of New York. In 1994, he attained Fellowship in the Society of Actuaries. Rich is also a Member of the American Academy of Actuaries and a Fellow of the Conference of Consulting Actuaries. In 2008, Rich was named "Power Broker" for Disability Benefits by Risk & Insurance magazine.
About the Moderator
Joe Fleischer, Editorial Director, Finance Channel, Argyle Executive Forum
In his role as finance channel editorial director with Argyle Executive Forum, Joe Fleischer focuses on developing virtual events on topics that reflect the primary concerns and priorities of senior finance executives. He is based in New York.