TOP 3
Pharmacy Plan Sponsor Challenges & How Benefits Advisors Can Help
RxBenefits recently surveyed 600 U.S. employers*
to uncover their biggest concerns. The survey included:
Job Title
Employees
All U.S. Regions
Build and improve pharmacy plan conversations with your
clients using these key challenges.
Challenge #1
Unpredictable Cost Savings
Rising drug prices and healthcare costs make it impossible to forecast future expenses.
Pharmacy is the
fastest-growing
health benefits cost
Prescription drug spend increased
9.9%
in 2023**
Spend is expected to rise
>8%
in 2025**
With these rising costs showing no signs of slowing down, it’s essential
to take proactive steps to manage pharmacy plans effectively.
Challenge #2
High-Cost Specialty Drugs
Specialty drugs are driving up costs, and cookie-cutter
clinical strategies fail to make a meaningful difference.
~50% of new drugs exceed
$150K
annually**
<2% of a plan’s prescription drug claims account for
>51%
of total pharmacy benefit plan costs
Specialty drugs are
55%
of drug spending, up 28% from 2011***
The increasing impact of specialty drugs on pharmacy benefits
plans highlights the need for innovative approaches to address
these challenges.
Challenge #3
Lack of Transparency
Opaque pharmacy benefits contracts lead to distrust.
61%
of employers surveyed reevaluate their pharmacy
benefits plan every 2-3 years
69%
increase in requests for pharmacy benefits plan proposals****
Contract simplicity and transparency is a
top 5 priority
for employers surveyed
As the demand for transparency grows, the importance of tailored
pharmacy benefits solutions with a fresh, client-first approach
is apparent.
