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Report Details 3 Trends Driving Employers’ Health Care Costs

InterWest Insurance Services

Pharmacy spending, high-cost claimants and newly developed anti-obesity drugs are expected to shape health benefits and affect the cost of care and health insurance for employers, according to a new report. As a result, demand for these pharmaceuticals has boomed, but not all health plans cover them.

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Employers Wrestling with Covering Weight-Loss Drugs

InterWest Insurance Services

The explosion in demand for new, costly and highly effective weight-loss and diabetes drugs is poised to play an outsized role in increasing the cost of health care, and in turn, health insurance in America. in 2023, compared to an increase of 6.4% in 2022, according to a report by Mercer.

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Captive Health Insurance and Prescription Drug Costs

AssuredPartners

"Organizations invest an enormous amount of financial capital into their health insurance plans, and pharmacy costs continue to increase every year," states Kathryn Simmons, CWCP, CWCC, Vice President Operations, AssuredPartners West Virginia. Over the last ten years, pharmaceutical companies have produced over 150 specialty drugs.

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Here’s What You Need to Know About Stop-Loss Health Insurance

Griffin Benefits

Employers of every size continue to struggle with the rising costs of healthcare, which ultimately increases the cost of medical premiums for everyone. 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.

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Report: Group Health Plan Cost Inflation to Pick Up Steam

InterWest Insurance Services

A new report by Aon warns employers to expect average group health insurance costs to increase 8.5% in 2024, as inflation starts hitting the cost of delivering care as well as pharmaceuticals. The report predicts that employers will pay an average of $15,088 in 2024, compared to the average this year of $13,906.

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New Approaches to Managing Health Care Costs, Improving Outcomes

InterWest Insurance Services

As health insurance and health care costs continue climbing, some employers are taking new and innovative steps to tamp down costs for themselves and their covered employees while not sacrificing the quality of care they receive. The following are some strategies that employers are pursuing.

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How Clinical Informatics Can Uncover Major Saving Opportunities in Healthcare Plans

Griffin Benefits

As healthcare costs have risen rapidly in the last decade, employer-sponsored health insurance premiums have followed,1 affecting both organizations and employees. Data analytics is the first step in answering that question, directing employers toward what medical situations can sink a healthcare plan. WANT TO LEARN MORE?