The specialty drug market is evolving rapidly due to soaring prices and the introduction of high-priced medications. Specialty drugs now constitute approximately 55% of total drug spend for many plans, significantly impacting pharmacy costs.
Self-insured employers need to be prepared for the financial burden of these escalating costs. Catastrophic claims can strike unexpectedly, resulting in budget-breaking and business-shattering consequences.
To address these challenges, our sister company RxPharmacy Assurance offers supplemental specialty stop-loss insurance. By bundling traditional stop-loss insurance with RxPharmacy Assurance, employers gain greater control over their pharmacy benefits, allowing for increased transparency and financial advantages.
To learn more about how RxPharmacy Assurance can help your self-insured employer clients navigate the evolving specialty drug market while gaining control over pharmacy costs and risks, read the full blog by Paul Fortunato here.