Managing Prescription Drug Costs 2023-24 : Navigate today’s pharmacy benefits efficiently, effectively and ethically in partnership with Aimed Alliance

HR Research Institute Research Report and Infographic

The rising cost of healthcare, and prescription drugs in particular, is a source of anxiety for employers with each new plan year. While there are multiple reasons for this increase, pharmacy costs—including the growing demand for specialty drugs (high-cost medications for individuals with chronic conditions)—contribute to these rising costs. It is essential that employers gain a deeper understanding of the emerging trends in managing prescription costs—particularly those related to specialty drug costs—and how these trends impact employers and employees. This report sheds more light on them.

Did you know?

• Almost nine out of 10 respondents (88%) say that the cost of offering affordable health insurance to employees is a large concern for their employer.
• Over half (54%) of employers that are self-insured are familiar with alternative funding programs (AFPs)
• Larger employers and those that are self-insured are more likely to use a copay accumulator program.