Confused by rising medication costs? Watch out for the rebates
Benefits managers should take a careful look at the common practices of their pharmacy benefit manager (PBM) to understand the PBMs use of manufacturer rebates. While it may sound counter-intuitive, the use of rebates is actually an important factor in rising drug costs.
By Dave Marley|April 02, 2012 at 11:03 AM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
There’s no doubt that across the country, prescription drug costs are on the rise. A recent report from the AARP showed that brand name prescription drugs used by millions of older Americans grew at nearly four times the rate of inflation from 2005 to 2009 – and the trend didn’t stop in 2009. According to independent pharmacists, brand name drug prices are as high as they have ever been.
Every benefits manager knows the importance of offering employees a plan that makes prescription drug prices affordable. Benefits managers should take a careful look at the common practices of their pharmacy benefit manager to understand the PBM’s use of manufacturer rebates. While it may sound counter-intuitive, the use of rebates is actually an important factor in rising drug costs.
Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.
Your access to unlimited BenefitsPRO.com content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
It’s no secret that health benefits have struggled to keep up with workforce expectations during the Great Resignation. Remaining competitive means employers must streamline their health benefits, put employees first and deliver on brand values. Download this guide to help your clients gain an edge in 2022 with their health benefits.
Amid mass resignations and record-high job openings, employees are now firmly in the driver’s seat when it comes to where and how they work. So, how are you going to stand out in this highly competitive market? This guide outlines a forward-thinking health benefits strategy that will ensure your company remains competitive in 2022 and beyond.
Millennials and Gen Z value tobacco and nicotine cessation more than ever before, but quit programs must adapt to their evolving needs. New research indicates successful quit programs have three key facets. Download this interactive ebook to learn how to set your company apart with an effective quit services benefit.