May 28, 2020 | Cost Savings, MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, Transparency
A recent Benefits Pro article highlights two pharmacy benefits management (PBM) business models: traditional and pass-through. MedBen Rx Advocate begins with the pass-through approach but takes it one step further by eliminating margin manipulation. The traditional...
May 27, 2020 | Announcements, Cost Savings, MedBen Analytics, Online Services, Plan Design, Plan Language, Reporting
You may have noticed that the log-in screen of MedBen Analytics recently had a design update, but be assured that all the features remain the same. MedBen Analytics is an online service available to all clients and brokers, providing insightful data that helps...
May 17, 2020 | Cost Savings, MedBen Rx, MedBen Rx Advocate, MedBen Rx Alliance, Pharmacy Benefits Manager (PBM), Prescription, Rx Costs, Savings
Three-quarters of MedBen clients use MedBen Rx prescription programs and are seeing the benefits first-hand. By utilizing our forward-thinking pharmacy solutions, these groups realized an average savings of 14.8% per employee per year, compared to those using other...
May 3, 2020 | Cost Savings, MedBen Rx, MedBen University, MedBen WellLiving, Municipalities, Reference-Based Pricing, Trend, Webinars
From 2015 to 2019, MedBen’s municipality block saw just a 2.7% trend on total claim costs. At the 14th Annual Municipality Roundtable Webinar on April 30, Vice President of Sales & Marketing Brian Fargus shared that municipality medical costs trended at 3.4%...
Apr 17, 2020 | Alternative Plan Design, Claims Management, Cost Savings, COVID-19, Direct-to-Employer Contracting, MedBen Rx Advocate, Plan Design, Prescription, Reference-Based Pricing, Self-funding, Third party administration, Wellness
BenefitsPRO reports that “employers’ health care benefit costs could jump by as much as 7 percent this year due to the COVID-19 outbreak – on top of the 5 percent increase that employers had previously projected before the pandemic.” That’s why it’s essential for...
Apr 13, 2020 | Cost Savings, MedBen Rx Advocate, Rx Costs, Savings, Uncategorized
MedBen Rx Advocate clients were able to realize an average savings of 14.8% per employee in 2019 compared to traditional pharmacy plans. These savings are due in large part to our “cost plus” pricing model, and flexible and lowest net cost-driven formularies. Only...
