A Decade of High-Cost Claims: What the Data Reveals

Key Drivers of High-Cost Medical Claims in 2024

The landscape of high-cost insurance claims has shown remarkable consistency. The top conditions responsible for the most significant claims have largely held their ground, with only modest changes in their order from year to year. These shifts are typically driven not by the emergence of new diseases, but by the introduction or increased utilization of expensive pharmaceutical therapies designed to treat them.

One notable exception to this pattern has been COVID-19. Emerging as a major cost driver in 2021 and continuing to rank within the top 20 through 2023, it reshaped the claims landscape during the height of the pandemic.

However, as the world adjusts to the post-pandemic reality, COVID-19 has now fallen out of the top 20 in 2024. While it still affects the four-year aggregate data, projections suggest its impact on high-cost claims will continue to decline and may disappear from long-term rankings as early as next year.

As these cost drivers evolve, the question becomes:

Are you—or your clients—confident that your global coverage provides access to the advanced treatments and evolving strategies needed to meet today’s most pressing healthcare risks?

High-Stakes Healthcare: Conditions Driving Today’s Costliest Claims

As we live longer, longevity is proving to be a double-edged sword—offering more years, but at a rising cost. Nowhere is this more evident than in the relentless financial toll of malignant neoplasms (cancers), which continue to lead the pack in both total claims spend and the number of affected individuals. Cancer is not just a medical crisis—it’s a financial juggernaut. According to recent data, cancer-related treatment costs are three times higher than those of the next most expensive condition—cardiovascular disease underscoring the immense and growing burden this disease places on insurers, employers, and families worldwide.

Blood-related cancers—including leukemia, lymphoma, and multiple myeloma—continue to pose a significant challenge, both clinically and financially. These conditions are among the most complex and resource-intensive to treat, consistently driving a high volume of costly claims and requiring long-term, specialized care that places sustained pressure on insurance systems and care networks.

Orthopedic and musculoskeletal conditions have exploded onto the high-cost claim radar—now ranking third across both annual and four-year evaluations. These are no longer just aging-related inconveniences; they’re becoming some of the most financially burdensome medical events clients face today. Average claim costs surged again this year, with thousands of individuals now experiencing debilitating—and expensive—health events that demand immediate and strategic financial protection.

Even more alarming? Claims related to congenital anomalies, though less common, are among the most severe and financially devastating cases insurers face today. These aren’t isolated incidents—they're powerful reminders of how quickly a single event can overwhelm unprepared coverage. These aren’t outliers; they’re wake-up calls for anyone underestimating the true cost of serious medical conditions.

COVID-19, once a dominant force in high-cost claims, has now faded into the background—yet its legacy serves as a stark reminder: risks may shift, but the potential for financial exposure is ever-present. Staying protected means staying ahead.

This is where a well-structured global health insurance policy becomes essential. It transfers the financial burden of catastrophic medical events to the insurer, so you can focus on recovery—not bankruptcy. More than just coverage, it's a strategic tool to preserve your estate, protect your family’s legacy, and ensure that unexpected medical crises don’t become financial ones. Because when the unexpected happens, the strength of your policy determines not just the quality of care you receive—but the future you’ll still be able to build.

Are you confident your current coverage strategy is aligned with today’s realities? When life takes an unexpected turn, will your policy provide the protection you or your clients truly need? Let us show you how the right coverage can make the difference between devastation and resilience.