Dec 26, 2022 | Cost Savings, Drug costs, MedBen Rx, Savings, Specialty Drugs
From earlier this year: “Health plans and pharmacy benefit managers (PBMs) that manage drug costs… say specialty drugs now account for 50% or greater of the total prescription spending they manage. In some cases, employer clients are seeing specialty costs...
Nov 26, 2022 | Cost Savings, MedBen Access, Member Prescription Portal, Mobile App, Online Services, Prescription, Rx Costs, Savings
From WebMd: “Prices for medications may be very different from pharmacy to pharmacy, even within the same ZIP code. So you may be able to save money on your medicines by shopping around for the best price. “Every pharmacy… has its own markup on drugs. Prices...
Oct 18, 2022 | Cost Savings, Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, White paper
Major pharmacy benefit managers (PBMs) use “smoke and mirrors” to make you believe they’re saving you money on prescription drugs: On the one hand, PBMs offer you administrative fee credits – fixed cost reductions that make up just a small portion of...
Oct 3, 2022 | Cost Savings, MedBen Rx, Own Use, Prescription, Rx Costs, Savings
Hospitals and other qualified entities have a unique opportunity for pharmacy savings through Own Use. This innovative program can save MedBen Rx clients as much as 35% when compared to standard PBM pricing.Own Use brings together non-profit health care systems and...
Sep 20, 2022 | Case Studies, Cost Savings, Direct-to-Employer Contracting, Savings
A MedBen Client switched from a traditional PPO plan to direct-to-employer (DTE) contracting in 2020. They contracted directly with a local health system, and added a wrap-around PPO network for out-of-area care. By using DTE contracted providers, any chance of...
Sep 2, 2022 | Affordable Care Act, Cost Savings, Fully Insured, Savings, Self-funding, Third party administration
Fully-insured employers may soon face double-digit premium increases… a good reason to explore making the switch to self-funding solutions.Benefits PRO reports:”Marketplace insurers are proposing a 10% premium rate hike in 2023 in 13 states and DC. An...
