PBMI Report Shows Changes in Pharmacy Benefit Design to Meet Cost Challenges
PBMI Releases 2016 Trends in Drug Benefit Design Report
Plano, TX (Marketwired – December 12, 2016) ―Although employers continue to cite managing drug cost trend as the number one goal, they are addressing this challenge head on by implementing significant changes in drug benefit design. This is just a sampling of the results from PBMI’s 2016 Trends in Drug Benefit Design Report released today. The report includes responses from 337 benefit leaders representing employers with an estimated 12.3 million covered lives.
“As drug costs continue to rise, it’s no surprise that this year’s report shows employers maintain focusing their goals in the areas of managing specialty and overall drug benefit cost trend,” says Jane Lutz, Executive Director of PBMI. “As employers look to the future, collaboration to design more effective benefit designs is critical.”
The following are a few of the key findings from this year’s report:
- Employers are changing pharmacy benefit designs to manage cost increases
- Plans with four or more tiers continue to grow – 38% have four or more tiers, compared to only 26% in 2012
- Use of pharmacy deductibles are common and growing with 38% having a pharmacy deductible, either specific to the drug benefit or combined with the medial benefit
- Employers are also increasing use of incentives to encourage healthy behaviors
- Rewarding members who participate in health risk assessments increased by 12%
- Use of incentives to motivate behavior change rose 17%
- Reducing copayments for members who participate in care management programs increased 1%
- The report also identifies several opportunities
- 64% do not use preferred or limited retail networks
- 47% do not send member communications to encourage mail order or on-site pharmacy use
- Only 62% of employers reporting they currently have a program in place despite epidemic rates of substance abuse
“We hope our research continues to drive meaningful conversations and brings together all stakeholders involved in benefit design creation,” adds Lutz.
PBMI will host a free webinar on December 15 at 1:30 pm EST to showcase the report. Register today. To download or request a printed copy of this report click here.
About PBMI
The Pharmacy Benefit Management Institute provides research and education to help healthcare and benefits professionals work with pharmacy benefit managers to design prescription drug benefit programs. Learn more at www.pbmi.com.
Recent Posts
-
Bill Aims to Offset Reimbursement Losses for Long-Term Care Pharmacies Catering to Nursing Homes
Starting in January, falling prices for costly drugs may strain long-term care pharmacies, but proposed legislation backed by advocacy groups aims to subsidize some of this loss. And nursing home advocacy groups are among those urging Congress to pass the Preserving Patient Access to Long-Term Care Pharmacies Act.
-
Drug pricing policy could jeopardize long-term care pharmacies, leaders contend
Senior living and care leaders have joined a coalition calling attention to a policy fix they say would address unintended consequences of Medicare Part D price negotiations that could shutter long-term care pharmacies.
-
Senior Care Pharmacy Coalition: Passing HR 5031 Vital for Seniors’ Medication Access
The American Health Care Association/National Center for Assisted Living (AHCA/NCAL), LeadingAge, and Argentum joined the Senior Care Pharmacy Coalition (SCPC) in calling for Congress to pass the Preserving Patient Access to Long-Term Care Pharmacies Act (HR5031), according to a news release.
Stay in the Know
Get the latest news and updates on issues impacting the long-term pharmacy community.