An increasing number of employers are enlisting their employees in long-term strategies to help control rising prescription drug costs, a recent survey says.
Conducted by Buck Consultants, a human resource and benefits consulting firm, the survey was designed to identify the strategies that employers are using to help manage rising prescription drug benefits and costs and included 150 respondents from various industries and company sizes.
The study found that:
- Ninety-nine percent provide prescription drug coverage as part of their health care plan for active employees.
- Fifty-one percent use employee cost-sharing as a utilization management tool. The most common cost-sharing range is 21 to 30 percent (used by 44 percent of those who responded).
- Thirty-seven percent said pharmacy benefits represent between 16 and 20 percent of total health care costs. And 29 percent said pharmacy benefits represent more than 21 percent of total health plan costs.
- According to those who responded, the most important clinical management steps they are taking to control pharmacy benefit costs are disease management, care management, and smoking cessation programs.
- Topping the list of strategic initiatives for long-term cost control strategies include providing employees with tools and information, education, and worksite wellness and health activities.
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Written by Jenny Cromie, certified human resources specialist (CHRS)
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