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Employers Wrestling with Covering Weight-Loss Drugs

InterWest Insurance Services

These groundbreaking drugs — the most popular sold under the brand names Mounjaro, Ozempic and Wegovy — are partly to blame for overall pharmaceutical benefit costs jumping 8.3% Employers and insurers are now faced with the prospect of exploding drug costs if demand continues to boom and doctors write more prescriptions for them.

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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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Mitie, The Perfume Shop and NFU Mutual UK certified as UK top employers

Employee Benefits

Facilities management employer Mitie, The Perfume Shop, pharmaceutical firm Thornton and Ross, and insurer NFU Mutual UK have been certified as UK top employers. Created by the Top Employers Institute, the UK top employer accreditation recognises employers’ commitment to HR initiatives and practices.

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New Anti-Obesity Drugs Put Employers in a Quandary

InterWest Insurance Services

A surge in demand for pricey, new and highly effective anti-obesity medications could put a financial strain on employers who sponsor their employees’ health plans. Employers have long offered coverage for certain weight loss tools, such as bariatric surgery if employees qualify for the drastic procedure that requires an operation.

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PepsiCo and Pfizer named Top UK Employers 2023

Employee Benefits

Food and drink manufacturer PepsiCo UK and pharmaceutical firm Pfizer UK have made the Top UK Employers list for 2023. The Top Employers Institute compiled the list by reviewing HR policies and people practices across organisations around the world, including 99 UK organisations. The 10 Top UK Employers for 2023 were: Abbott.

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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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Health Benefits in the Workplace at Risk: Employers Try to Absorb the Shock

HR Digest

Health benefits for employees are proving to be a huge investment for employers , with total health benefit cost per employee expected to rise 5.4% Pharmaceutical companies and researchers insist that costs have to remain high for the production and further research to be viable. on average in 2024.