The stigma against generic prescription drugs continues to wane as consumers become more educated about their similarities to brand name medications and cost-saving advantages. Employee Benefits News cites a CVS Caremark report that found the generic… more »
A recent Employee Benefits News article examines the growing problem of “polypharmacy” – administering multiple medications for the same condition. Often this occurs when patients go to more than one doctor or pharmacy, leading to… more »
Employee Benefit News reports that rising prescription drug costs are spurring employers to push pharmacy benefit managers (PBMs) harder than ever for greater transparency and maximum rebates on generic and brand-name medications. But for MedBen… more »
Formulary updates for prescription plans administered by Pharmacy Data Management (PDM) are now available at the Forms area of MedBen.com. The new formularies become effective January 1, 2010. If you still need a 2009 formulary, they will be available… more »
Debit cards have gradually overtaken checks as the payment method of choice, so it should come as no surprise that their acceptance is spurring the popularity of consumer-driven health plans. This article on the Employee Benefits News website sites an… more »
While Congress labors to hash out a workable overhaul of the health care system, President Obama is pushing cost savings through Medicare cuts to hospitals, pharmaceutical companies and medical specialists – just part of a proposed $313 billion health… more »
This week, MedBen will mail letters to plan participants who use MedBen “Benny” debit cards with their flexible spending accounts (FSAs) notifying them of a change that will affect where they can make health product purchases.
In accordance… more »
If MedBen partially self-funded clients use MedBen’s proprietary prescription drug program and the AWAC claim cost control program they will save an average of $19 per employee per month over MedBen competitors. This is above and beyond network… more »
Generic drug use in pharmacy benefit plans reached an average of 60.4% in 2008 according to the Takeda Prescription Drug Benefit Cost and Plan Design Report, 2008-2009 edition. MedBen clients experienced generic drug use averaging nearly 10% greater… more »
Just how do pharmaceutical companies price their products? As this article in the Employee Benefit News reveals, it doesn’t happen in a vacuum, and it involves quite a bit of number-crunching.
Multiple considerations go into the drug pricing… more »
Rising prescription costs may be an unavoidable reality of our health care system, but that doesn’t mean that consumers have to take the high prices at face value. This Wall Street Journal article offers some good ideas on how to keep… more »
It’s turning out to be a less-than-sunny summer for members of the pharmaceutical industry. On the heels of their voluntary ban on promotional items for doctors, prescription drug companies are dealing with extra-strength headaches both external… more »
The Wall Street Journal Health Blog reports on the practice of pharmacy benefit managers (PBMs) marking up the prices of generic drugs. The PBMs negotiate discounts with pharmacies, but rather than passing the full value of the discounts onto clients,… more »
The ETHEX Corporation has announced that it is voluntarily recalling several lots of its 30mg and 60mg morphine sulfate extended-release tablets. The recalled lots were distributed to pharmacies between June, 2006 and May, 2008. The recall is due to… more »
Expect health care costs to rise by an average of 6%, says Towers Perrin in their 2008 Health Care Cost Survey (available here). Most of MedBen’s stop-loss carriers are using a 13%-15% trend and MedBen Mutual is using a 15.5% medical trend.… more »
Segal Co. offers a good overview of the effect of the class action lawsuit related to drug pricing. You can get the summary from Segal’s website here.
As Segal notes, the calculation for Average Wholesale Pricing, or AWP, was determined to… more »
Walgreen’s third quarter earnings were a good reflection of the general trend of tighter prescription drug margins. According to a posting on The Wall Street Journal’s Health Blog, “Despite higher revenues, Walgreen’s net income… more »