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More Employers Cover Weight-Loss Drugs: Survey

InterWest Insurance Services

And, as costs continue rising on average 5.25% in 2024, employers are taking a number of steps to manage costs. These drugs, known as GLP-1s, are contributing to a significant spike in pharmaceutical costs and adding to overall health care outlays. The fastest-growing component of costs is pharmacy benefit costs, which were up 7.7%

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Tariffs and Health Benefits: The Hidden Cost Employers May Not Be Able To Ignore

CorpStrat

Healthcare is a complex supply chain and many medical devices, pharmaceuticals, and even basic supplies like syringes, gloves, and diagnostic equipment are imported. Rising premiums, higher deductibles, and tighter networks. How Do Tariffs Connect to Health Insurance? And then the patient. The possible result?

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The impact of rising health care costs on public sector budgets

Higginbotham

Rising premiums, increased deductibles and mounting prescription drug costs can quickly erode health care budgets. Cost-Shifting to Employees: Higher deductibles, copays and out-of-pocket costs may ease the financial burden for public sector entities, but they could have a negative impact on employee satisfaction and team morale.

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Health Plans Covering Fewer Drugs, Imposing More Restrictions

InterWest Insurance Services

As prescription drug costs continue growing and pricey new pharmaceuticals add to health plans’ cost burdens, some carriers are starting to reduce the number of medications they’ll cover and are imposing new barriers to accessing the most expensive ones. This is referred to as a pharmacy deductible.

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New Approaches to Managing Health Care Costs, Improving Outcomes

InterWest Insurance Services

This process, called steerage, if executed correctly can save the employee money on their deductibles, copays and coinsurance and help them get better overall care. ” And as new and more expensive pharmaceuticals hit the market, the portion of overall health care costs that goes towards medications will continue to rise.

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Report: Group Health Plan Cost Inflation to Pick Up Steam

InterWest Insurance Services

in 2024, as inflation starts hitting the cost of delivering care as well as pharmaceuticals. Pharmaceutical costs — There are two significant drug cost drivers: Specialty drugs: These are significantly more expensive than their traditional drug counterparts, often costing more than $2,000 per month per patient.

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More Employers Cover Weight-Loss Drugs: Survey

InterWest Insurance Services

And, as costs continue rising on average 5.25% in 2024, employers are taking a number of steps to manage costs. These drugs, known as GLP-1s, are contributing to a significant spike in pharmaceutical costs and adding to overall health care outlays. The fastest-growing component of costs is pharmacy benefit costs, which were up 7.7%