Truveris launches pharmacy stop loss insurance platform

Truveris has introduced a new product that will enable benefits brokers and advisers to help companies take advantage of stop loss insurance with the nation’s first automated quote engine.

“With prescription drug prices far outpacing overall inflation, employers of all sizes are seeking to stabilize runaway benefit costs,” Truveris Chief Innovation Officer AJ Loiacono said. “Our platform, designed specifically for brokers and advisers, provides unprecedented access to comprehensive stop loss insurance rates, delivering financial security and much-needed control over prescription benefits spending. Quotes are delivered in real time, allowing anyone searching for a quote to have results in minutes.”

The platform is available online through RxChoice, the only online pharmacy-benefit marketplace. The Truveris stop loss insurance platform rapidly produces quotes for Rx stop loss insurance separate from or along with quotes for pharmacy benefit manager services.

The new product reduces the weekslong process down to 15 minutes. It also allows payers to commence stop loss coverage anytime throughout the year, rather than only within the traditional benefit window.

“Amid the proliferation of specialty drug utilization, cost containment is a top priority for all of our clients,” Brian Ball, national vice president of employee benefits at USI Insurance Services, said. “With the inclusion of the stop loss offering, USI will now be able to help many more employers reap the rewards of carving out pharmacy benefits without the stress of financial uncertainty.”