Your Company Has a Drug Problem
Prescription Drug Costs are Getting Out of Hand
There is a looming drug cost problem that is threatening the stability of health insurance benefit packages. As prices continue to rise this problem is no longer looming on the horizon, it's here:
- Doctors are now prescribing more drugs per patient than ever before.
- The development of designer drugs to fight the more serious diseases has only been increasing the last few years. Not just cancer. As these designer drugs become more effective, the usage will increase.
- There is a new cholesterol treatment than can cost upwards of $30,000.
- Manufacturers of drugs are now starting to advertise their "effective therapies" and driving patients to ask their physicians about available effective therapies. This is turning prescriptions into a patient driven commodity. We use the most recent series of television advertising about the cure of Hepatitis C. One in 30 Canadians have Hep C and the treatment costs $90,000.
- We hear new examples every week.
Don't start looking for solutions after your horse gets out of the barn.
There are solutions to deal with these new challenges that can be fair to both the employee and the employer. There is no one answer. Make sure not only your company is ready, but your employees are ready tool. There are changes coming, don't wait until you are forced into them.
- Learn the strategies for integrating government programs such as the Ontario Trillium Drug Plan, with your employee benefit package.
- Learn about drug caps/deductibles and the pros and cons for both employee and employer.
- Prepare for open minded thinking about how your benefit program should be structured.Learn the pros and cons of Administration Services Only, Health Spending Accounts, Hybrid plans, etc.
Give The Benefit Guys a call today at 519-622-3347 and let their years of experience work for you. The Benefit Guys offer affordable, meaningful options. Whether you already have a benefits plan or are considering implementing your first one, give us a call for a personal, confidential discussion. We have access to the best plans and the best advice available today.
"No matter how many employees you have - it's perfect. And it starts with one!"
Our Best Practices Annual Review is available for download. You need to reduce your benefits liability exposure. The content in this document will help you.
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