Paul Fortunato, Product Owner at RxPharmacy Assurance, recently discussed the complexities of self-funding and its relevance to the pharmaceutical industry on The Business of Pharmacy™ podcast hosted by Mike Koelzer.
Fortunato noted that two-thirds of the U.S. workforce relies on self-funded plans and emphasized the need for supplemental stop-loss coverage to manage the financial challenges associated with high-cost specialty medications.
He highlighted the critical balance between affordability and quality in healthcare, especially in the context of specialty medications. He said RxPharmacy Assurance’s flexible, accessible supplemental specialty stop-loss coverage aims to make pharmacy benefits more affordable for both employers and members.
“They need to protect themselves from these kinds of large catastrophic claims that may come across their benefit at any given time, so they purchase insurance, and that’s what stop-loss does,” Fortunato said. “It helps them backstop against that catastrophic event.”
For more insights, listen to the full episode of The Business of Pharmacy Podcast™ here.