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Four ways we're addressing pharmacy costs

Posted by AllWays Health Partners blog team on February 05, 2020

UPDATE: Federal law is beginning to move towards a solution to high prescription drug prices. The U.S. Supreme Court will soon take up a case on whether states can regulate certain aspects of prescription drug reimbursement, essentially taking on pharmacy benefit managers (PBMs) and protecting pharmacies from below-cost reimbursements. In addition, the “Lower Costs, More Cures Act” was introduced in December with the aim to lower out-of-pocket spending, protect access to new medicines, and strengthen transparency, accountability, and competition. This act has considerable bipartisan support, making it likely to pass.

Today's post is from our broker blog, AllWays Insider, which is exploring pharmacy cost trends in a series of posts.  

Because many of the dollar amounts reported on cost increases are so staggering, health plans and pharmacy benefit managers (PBMs) are working together to address increasing drug costs. Here are four measures aimed to control premium and out-of-pocket insurance costs and help manage prescription drug costs.

 

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According to the American College of Allergy, Asthma and Immunology, childhood peanut allergies have increased by 21% since 2010. And that doesn’t include tree-nuts, shellfish, or other common life-threatening food allergies. In many cases, parents rely on EpiPens to save their child’s life. It’s a must-have medication for many families.

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