11.13.23 Featured News

The True Cost of Self-Insured  Pharmacy Benefit Plans

In the midst of a robust job market, employers are grappling with labor shortages, leading many to enhance benefits plans as a differentiator to attract top talent. However, soaring drug costs pose challenges to this approach.

In a recent TLNT article, RxPharmacy Assurance Product Owner Paul Fortunato says employers must strike a balance, ensuring employee well-being without compromising financial stability. For 70% of U.S. adults reliant on daily prescriptions, comprehensive pharmacy benefits are a lifeline, the importance of which can’t be overstated. A recent CivicScience poll reveals that 24% of U.S. adults have skipped medication due to costs, underscoring the critical need for accessible healthcare.

With specialty medications accounting for over 50% of employer plan expenditures, the stakes are high. One solution gaining traction is supplemental stop-loss insurance, designed to shield businesses from potentially catastrophic claims. This strategy allows employers to offer comprehensive benefits while safeguarding their bottom line.

To delve deeper into this complex issue and explore viable solutions, read the full article on TLNT.