If you’ve ever spent time comparing health plans, you know no two plans on the market are exactly alike. One carrier alone might have over 50 slightly different plans, and even “standardized” naming conventions aren’t consistent across the board. From network access to deductibles, copayments, and covered benefits, there are a number of factors that influence the cost and perceived value of a given plan.
Because many of the dollar amounts reported on cost increases are so staggering, health plans and pharmacy benefit managers (PBMs) are working together to address increasing drug costs. Here are four measures aimed to control premium and out-of-pocket insurance costs and help manage prescription drug costs.
Employers of all sizes often face increases in health care costs during their annual renewal process. While there are many reasons why, prescription drug costs remain a consistent – and growing - part of the story. Let’s look at three trends that are contributing to increased pharmacy costs and overall health care expenses.
Today’s workforce can have many different generations working together, with more than five decades separating the youngest from the oldest.
It’s no secret that navigating health insurance information can be a challenge. One commonly asked question among insurance subscribers is why their plan covers some health care services at no cost, while other services require cost sharing.