As medical treatments evolve, it is expected that the plan design may not be in absolute sync with the latest science.
As the season transitions from summer to fall in the Northeast, we find ourselves reaching for jackets and boots to protect against the crisper autumn temperatures. This time of year, however, should not be limited to looking for ways to defend ourselves against the upcoming harsh conditions, but also the time we must use to protect (and prepare) our self-funded plans to avoid an unforgiving 2020 renewal. Often, the path to change starts by listening to employees about their concerns or suggestions for the upcoming year.
For 2020, it seems that one of the most commonly asked about topics is gene and stem cell therapy. Whether the question is what this is, what does our plan cover, or what does this cost, this is something that employers should be mindful of as they develop their renewal design to avoid a 2020 surprise.
Basic overview of gene therapy and stem cell therapy
While each approach is unique, both gene therapy and stem cell therapy could treat certain genetic or other diseases. The techniques are relatively new and exciting to explore. Understanding the differences, however, is important.
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