Healthcare costs

Unlike private health insurance, Part D drug plans have no cap on patients’ 5% coinsurance costs once they hit $6,550 in drug spending, which forces patients to rely on financial assistance programs. These arrangements, however, do nothing to reduce drug prices.

With the holiday season approaching, employees may be indulging more and focusing less. An employer-provided nutrition program can help workers practice healthy habits.

Across the nation, workplaces have been the source of major coronavirus outbreaks — largely among the so-called essential workers who bear the brunt of COVID infections and deaths.

Health insurance companies will have to give their customers estimated out-of-pocket costs for prescription drugs and disclose to the public the negotiated prices they pay for drugs.

In order to discern which health plans offer the best bang for member bucks, benefit advisers need to understand the economics of healthcare today.

Every delayed preventative screening, test or check-up can result in a failure to discover a serious medical condition that requires treatment. That raises treatment costs down the line for both company health plan and employee.

A workforce with a greater number of financially stressed workers sees a greater number of sick days, higher healthcare costs, and increased absenteeism.

The overall impact of the crisis adds uncertainty about projected costs.

Employers can help employees prepare for and manage high healthcare costs related to COVID-19 as well as large medical bills related to other health conditions such as serious illness or accidents several ways.

While it does not solve all problems, virtual care offers a highly flexible, low resource approach that, with many patients, can deliver a positive care experience with equal or better quality at lower cost.

For most employers, just 1% of their members are driving 40% or more of pharmacy benefits costs.

Employees are cautious about discussing their mental health at work, but addressing these challenges can improve outcomes and lower healthcare costs.

Major depression is just one of hundreds of conditions where employers struggle to improve outcomes and costs.

The stress caused by high bills and medical debt can increase employees’ risk of a range of physical and mental health problems.

“Short-term telehealth options make it possible for businesses to navigate a very uncertain time,” says Bill Goodwin, CEO of telehealth provider MeMD.

Rising Star Alex Dampf left his job at a traditional benefits brokerage firm to start his own business and find new ways to manage benefits.

The healthcare company’s PBM designed a plan to ensure diabetics have access to medication without increasing employer costs.

Workplace accidents can mean significant disruptions and costs to companies as well as impacts on productivity.

About one in four large employers offer programs to help workers get better sleep and more than half plan to implement such efforts by 2021.

A state-run generic drug program would allow buyers to pool their bargaining power.