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Northborough reviews health-insurance outlook as broker projects renewal pressures
Summary
Town officials heard an insurance-broker briefing on Dec. 15 that flagged specialty drug spending—especially GLP-1 weight-loss medications—as a major driver of rising claims and a placeholder 16% renewal increase for July 1, 2026. The board asked staff to pursue plan-design alternatives and member education.
Select Board members and town staff spent the bulk of their Dec. 15 meeting examining the town’s employee health-insurance program after Boswell Insurance, the town’s broker, presented recent claims data and plan-design options.
Susan Boisvert, vice president at Boswell Insurance, told the board the town’s three-plan arrangement (two HMOs and one PPO shared with Southborough and the regional school district) presently shows a gross loss ratio of 108% and a net loss ratio of 98%, with a $170,000 stop-loss attachment. "Your gross loss ratio is a 108%," Boisvert said, explaining that a small number of very high-cost claimants drive much of the spending.
Boisvert and colleague Marcy Halloran said pharmacy spend—especially specialty…
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