InterWest Insurance Services
AUGUST 31, 2023
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.
InterWest Insurance Services
FEBRUARY 8, 2024
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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InterWest Insurance Services
DECEMBER 7, 2023
Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. The FSA announcement came unusually late this year, right in the middle of open enrollment, making it difficult for employers and employees to plan.
Griffin Benefits
JULY 5, 2023
In fact, after raising the prices of more than 1,400 prescription drugs in 2022, pharmaceutical companies started 2023 off with a 5% increase for more than 450 medications. Add to that considerable pipeline of new medicines to treat specialty diseases, including gene cell therapies, RNA therapies, immuno-oncology treatments, etc.,
HR Digest
SEPTEMBER 16, 2023
Pharmaceutical companies and researchers insist that costs have to remain high for the production and further research to be viable. Employer plans to handle the shift have seen some c ost-cutting attempts being made , but admirably, these have not resulted in any increase in deductibles and other cost-sharing requirements for employees.
Griffin Benefits
JULY 30, 2021
With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In doing so, you'll be helping them to become better consumers of healthcare and more satisfied enrollees in high deductible health plans.
Stratus.HR
OCTOBER 28, 2021
Related articles: Should I Enroll in a High Deductible Health Plan with an HSA? When a prescription (Rx) is first invented, that pharmaceutical company patents the drug and essentially has a monopoly on the drug for approximately 10 years after hitting the market. Robust Benefit Plan Options are Must-Haves for Small Businesses.
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