Healthcare benefits

Expensive new cancer drugs, treating increasing numbers of patients, could drive cancer drug spending by as much as 15% a year through 2013, according to the 2011 Medco Drug Trend Report, which tracks drug utilization and spending.

UnitedHealth Group is pushing into managing pharmacy benefits, bucking a trend among U.S. health insurers and threatening the dominance of the three largest companies that help negotiate drug pricing.

Chief financial officers at some of the nation's largest banks and financial services firms are downright bullish on the U.S. economy's overall outlook but nagging concerns about health care reform and the uncertainty of those costs are tempering their optimism.

Medco Health Solutions Inc. will lose a major pharmacy benefit contract to CVS Caremark Corp. starting next year, sending Medco shares down almost 11% and CVS up nearly 4% Friday.

Expensive new cancer drugs, treating increasing numbers of patients, could drive up cancer drug spending by as much as 15% a year through 2013, according to the newly released 2011 Medco Drug Trend Report, which tracks drug utilization and spending.

Electronic prescriptions among U.S. office-based prescribers increased 71% to 326 million in 2010, compared with 190 million the previous year, according to an annual progress report from e-prescribing network vendor Surescripts.

U.S. spending growth on prescription drugs slowed to 2.3% in 2010, the second lowest level in 55 years, according to a report by consulting firm IMS Health.

The Supreme Court ruled on Tuesday that a group of large pharmaceutical companies cannot be sued by a California county for allegedly overcharging for prescription drugs in violation of federal law.

California's insurance regulator has thrown its weight behind a lawsuit accusing Bristol Myers Squibb Co of dishing out kickbacks to doctors who prescribe its drugs.

Prices for prescription drugs rose at a faster rate than costs for other medical goods and services over the last four years, according to a new government report.

Catalyst Health Solutions Inc said it will buy Walgreen Co's pharmacy benefits management unit for about $525 million in cash, a deal that might spur more consolidation before big generic drug launches that could boost the business.

Employers have taken on new aggression toward cutting prescription benefit costs while enhancing quality of coverage. Even in a dark economy and among confounding health care reform legislation, prescription benefit managers are having success with new benefit tactics and evidence-based value design.

As many employers navigate their first months of compliance with the Patient Protection and Affordable Care Act, it could be assumed that employees are enjoying the quiet before the storm.

In a year replete with bad news, one of the most encouraging pieces of good news in 2010 was an uptick in the rate of growth of consumer-directed health plans. By the end of this year, more than 60% of U.S. employers are expected to offer a CDHP, according to a July 2010 GAO report.

The Internal Revenue Service issued new guidance allowing the continued use of flexible spending arrangement and health reimbursement arrangement debit cards for the purchase of prescribed over-the-counter medicines and drugs.

On New Years Day, millions of Americans will awaken to a very unpleasant surprise. Hundreds of medicines and drugs they were able to purchase just the day before on a tax-free basis will no longer be available tax-free.

The Internal Revenue Service has issued guidance to manufacturers and importers of branded prescription drugs on the annual fee imposed by the health care law.

AARP and the Consumer Reports Health publication have launched a Web site for consumers to compare price, effectiveness, safety and convenience of medications.