Rising Drug Costs are Threatening the Future of Employee Benefits – Here’s How to Fight Back

Skyrocketing drug costs are pushing U.S. employers to the brink. With pharmacy expenses surging 11.4% in 2024, driven by the high costs of popular GLP-1s and a variety of specialty drugs, employers are grappling with an unpredictable and unsustainable future. Specialty medications alone now devour more than 51% of pharmacy benefits budgets, despite making up less than 2% of claims.

But employers don’t have to sit back and watch their budgets implode – there are strategies to take back control. RxBenefits’ Bradley Nelson, Vice President, Clinical Services, and Tom Davies, Vice President, Clinical Products, explain how employers can turn the tide, protect their budgets, and invest in the health of their workforce in a new article.

Read the full story on Fierce Healthcare.