Expensive Medical Insurance Claims Are Rising

Healthcare claims that breach the million-dollar mark continue to rise, according to Sun Life’s latest catastrophic claims report covering data from 2013-2016. Among other things, the insurance giant found that the number of multi-million-dollar claimants increased 68% from 114 to 192 during that four-year period. While multi-million-dollar cases make up a “small number” of overall claimants, the firm said they are a “greater proportion” of reimbursement dollars. In 2016, multi-million-dollar cases made up 2.2% of claimants but generated 23% of total stop-loss reimbursements.