Berkley Accident and Health introduces cell and gene benefit
Berkley Accident and Health , a subsidiary of W. R. Berkley Corporation, is offering its self-funded clients a practical solution to alleviate the financial impact associated with cell and gene therapies.
“Cell and gene therapies are groundbreaking treatments that have the potential to reduce or cure life-threatening diseases. They can make a real difference to patients and their families. However, they can also come with extraordinarily high costs. The latest gene therapies to enter the market have estimated costs of $2 million to $4 million. That’s why we’re excited to proactively help customers navigate the complexities of cell and gene therapies and lower the financial burden. It’s part of our ongoing commitment to making self-funding more accessible and predictable.” – Brad Nieland, President and CEO.
Berkley Accident and Health’s latest offering, the Cell and Gene Therapy Step-Down Deductible benefit, is specifically designed to help clients mitigate the financial risks associated with these cutting-edge treatments. This benefit effectively reduces the Specific Stop Loss deductible for cell and gene therapy claims when clients choose to utilize an approved Center of Excellence network. Notably, Berkley Accident and Health has recently approved the Emerging Therapy Solutions (ETS) Center of Excellence, which offers valuable customer support, including education, network and contract evaluation, and access to preferred pricing at leading medical facilities nationwide.
Key benefits:
- Available at no additional cost to all Stop Loss policyholders and members of Group Captive programs.
- Automatically included in all new and renewed Stop Loss policies with effective dates on or after January 1, 2024.
- This endorsement effectively lowers the policyholder’s Stop Loss deductible for qualifying claims, provided that specific provisions are included in the employer’s plan.
Bottom Line: Berkley Accident and Health is ranked among the top ten independent Stop Loss providers.
