The rising cost of health insurance is becoming impossible to ignore for employers and their medical and pharmacy benefits plan members. Now, new data reveals just how significantly expenses are increasing. In a recently published article from the Wall Street Journal, new studies by two of the nation’s largest benefits firms found that healthcare costs for companies are expected to rise to nearly 10% in 2026. This would be highest increase in 15 years, a huge concern for companies already struggling with ever-increasing costs.
There are many reasons why health-related costs are rising so rapidly. One of the biggest and fastest growing contributors is the skyrocketing costs of prescription drugs. New drug treatments like GLP-1s for weight management and diabetes are extremely expensive. While these medications help people live healthier lives, their high costs are adding significant strains to employer health plans.
As a result, the HR-benefits and finance executives at organizations of all types and sizes are rethinking their health benefits. According to the Wall Street Journal article, 60% of companies plan to seek new health insurers or pharmacy benefits managers in the next few years. These findings reflect the growing dissatisfaction with traditional PBMs that prioritize drug volume and rebates over improving patient health outcomes and lowering costs.
At EmpiRx Health we believe in a smarter, pharmacist-led approach to pharmacy benefits management. We focus on ensuring clinically-appropriate care for our members with the ultimate goal of improving patient health outcomes and lowering costs. Most importantly, we work with our plan sponsor clients to ensure their pharmacy benefits plan fits their unique needs. It’s about enabling plan sponsors to take back control of their pharmacy benefits plans and financial results.
Read the full article in the link HERE.