Curated News
By: NewsRamp Editorial Staff
May 16, 2024
New Study Reveals HR Concerns About Rising Prescription Drug Costs
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- HR professionals can gain valuable insights into managing prescription drug costs to maintain a competitive edge in providing affordable health insurance.
- The study provides detailed information on the rising cost of specialty drugs and the impact on healthcare plans and self-funded employers.
- By understanding emerging trends in managing prescription costs, HR professionals can better support employees and their organizations' healthcare needs.
- The report reveals the significant impact of specialty drugs on healthcare costs, offering a thought-provoking perspective on the current healthcare landscape.
Impact - Why it Matters
The rising cost of prescription drugs impacts not only HR professionals but also employees and their organizations. The study sheds light on the challenges of managing healthcare plans and specialty drugs, forcing employers to explore out-of-the-box solutions while considering the potential risks and legal implications. This is important for all individuals who rely on employer-provided health insurance and for businesses looking to manage healthcare costs effectively.
Summary
HR professionals are expressing concerns about the rising cost of healthcare, especially prescription drugs, affecting their ability to provide affordable health insurance to employees. Aimed Alliance, the Alliance for Patient Access, and HR.com's Research Institute conducted a study to gather input from employers. The study reveals that only 46 percent of respondents are familiar with alternative funding programs (AFPs) for reducing drug costs, and self-funded plans are especially likely to use AFPs. The full 32-page research report and infographic are now available for free download to help HR professionals and employers better understand emerging trends in managing prescription costs and their impact on employees and organizations.
Source Statement
This curated news summary relied on this press release disributed by Newsworthy.ai. Read the source press release here, New Study Reveals HR Concerns About Rising Prescription Drug Costs
