Amwins Group Benefits Announces Updates to Gene Therapy Solutions Program

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Aug 23, 2023, 09:00 ET

Innovative program that helps employers mitigate the expense of gene therapy treatment

CHARLOTTE, N.C., Aug. 23, 2023 /PRNewswire/ -- Amwins Group Benefits released updates to its Gene Therapy Solutions program exclusively available through Stealth Partner Group, an Amwins Company. This cost containment program, which launched in January, provides sustainable, revolutionary strategies that prepare employers to face unexpected, high-dollar gene therapy claims with confidence.

"New and improved gene therapy solutions shouldn't have to break the bank," said Harley Barnes, Jr., co-chief executive officer at Stealth Partner Group. "At Amwins, we offer an innovative and sustainable approach to funding these treatments. As more therapies are approved, we're ensuring our benefits brokers and their self-insured groups stay informed about the state of the industry, and we are dedicated to assisting them in effectively managing coverage options for these promising new treatments."

Successful benefits strategies rely on cost-containment solutions that provide financial protection, foster informed decisions and navigate to optimal outcomes. Stealth Partner Group empowers employers as they implement smart, practical and complete risk management programs for their employees.

According to the FDA, there are 32 cellular and gene therapies in the market today, and up to seven additional gene therapy treatments are predicted to be approved by the end of 2023. Current covered treatment costs range between $850,000 and $3,500,000 and are expected to rise as more approved gene-therapy treatments hit the market. With the addition of Zynteglo and Skysona to our GTS-5 offering, the probability of a group experiencing a claim increases 2-3 times. We expect an employer's risk to continue to grow as the FDA continues to approve therapies and addresses disease states with a higher prevalence. In fact, we expect the number of eligible candidates for gene therapy treatments to increase 300% by 2026.

"Gene therapy treatments are revolutionary and provide patients with improved quality of life, however they come with a cost," said Josh McGee, executive vice president at Amwins Accident & Health Underwriters, who is responsible for proprietary program development for Stealth Partner Group. "Our benefits solutions are evolving as we continue to develop and support programs that protect employers as they seek to mitigate risk and face the ever-evolving and complex gene therapy landscape."

Amwins Gene Therapy Solutions includes five available treatments, offering reimbursement to group health plans and their coordinating stop loss carrier for qualified claims, while delivering simplified billing, seamless contract management, portability between carriers and meaningful, first-dollar protection to the employer.

Food and Drug Administration (FDA) approved treatments include:

Luxturna treatment for Leber Congenital Amaurosis (LCA) up to $850,000
Zolgensma treatment for Spinal Muscular Atrophy (SMA) up to $2,200,000
Spinraza treatment for Spinal Muscular Atrophy (SMA) up to $2,200,000
Zynteglo treatment for Transfusion Dependent Beta Thalassemia up to $2,800,000
Skysona treatment for Cerebral Adrenoleukodystrophy (CALD) up to $3,000,000

To learn more visit: https://www.amwins.com/solutions/group-benefits/self-funded/cost-containment/gene-therapy-solutions

About Amwins
Amwins is the largest independent wholesale distributor of specialty insurance products in the U.S. dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefit products, and administrative services. Based in Charlotte, N.C., the company operates through more than 155 offices globally and handles premium placements in excess of $33 billion annually. For more information, visit amwins.com.

About Stealth Partner Group
Stealth Partner Group, an Amwins Company, was founded in 2009 and has grown to be one of the largest specialized general agencies in the country. The firm partners with brokers, consultants, and third-party administrators (TPAs) to negotiate, implement, and assist in managing medical stop-loss and ancillary benefits with the nation's top-tier carriers. With 15 offices across the U.S., Stealth offers its clients more than 150 years of collective experience in the stop-loss and ancillary insurance marketplace. For more information, visit stealthpartnergroup.com.

For further information contact:
Amwins
Lisa Kuszmar
Telephone: 704.749.2780
Email: [email protected]

SOURCE Amwins