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Through a new group annuity program, Towers Watson may have found a solution to retiree medical costs a burgeoning problem for employers. The option eliminates the financial risk from the table and limits the administrative burdens linked to the benefit.
The New York-based group professional services company says that new option, the Towers Watson Longitude Solution, is borne out of more than two years worth of research and planning.
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Rising use of the weight-loss drug is fueling the fastest health plan cost growth in a decade and a half, forcing employers to rethink coverage strategies and cost management.
Reimbursing employees for physician-authorized medical cannabis gains traction as an alternative to costly pharmaceuticals.
Direct-to-employer carve-outs can make drugs like GLP-1s more affordable for companies and more accessible for employees.
As costs for care balloon, benefit leaders and employees should be proactive about their retirement saving strategies.
The companies have been looking for ways to gain an edge through deals with the firms that control drug benefits.
