SURVEY RESULTS
Self-Insured Employers: Making the Tough Decisions on Pharmacy Benefits
As employees make 2020-2021 healthcare elections, pharmacy benefits decision-makers reveal the method behind their plans. Scripta Insights surveyed 77 HR professionals at self-insured companies in August 2020. Their companies have a range of eligible employees from less than 1,000 to 10,000 or more. Results show employers and members could be saving a lot more on Rx.
KEY
INSIGHTS
Rx Prices Change Daily,
Rx Plan Design Barely Changes Annually
Only 12% of companies change plan design every year
Employers Don't Have the Tools
They Need to Make Smart Decisions
of employers think they have what they need to properly evaluate their PBM bill.
BUT...
do not get regular third-party analysis
do not get recommended monthly analysis
do not have regular contact with a pharmacy practice specialist
Employers Want to Spend LESS on Rx,
But Budget for & Accept Large Annual Increases
say lowering pharmacy benefits spend is somewhat or very important to executive leadership & CFOs
BUT...
would require an increase of 11-20% to reevaluate the plan
See How Quickly it Adds Up
That’s more than $500,000 per year!
Employer Offerings &
Employee Priorities Don’t Match
92% of employers said lowering out-of-pocket costs on Rx is somewhat or very important to their employees
Yet only 31% of employers offer a prescription savings program or coupon service
Smaller Companies Are Missing Out on Savings
Companies with 5,000 or less employees
Companies with 5,001+ employees
Speak regularly with the pharmacy practice specialist at their benefits consultant firm
Offer prescription savings programs or coupons to employees
COVID-19 is Not Changing Pharmacy Benefits Plans
of employers
are not making changes this year
Those making changes are:
Switching PBMs • Covering COVID-19 testing at 100% • Adjusting copay tiers