November 2022

HOW MUCH DO PRECRIPTION DRUGS REALLY COST?

HOW OFTEN DO YOU THINK ABOUT YOUR MEDICATIONS?

If you have diabetes, for example, you probably think about your medications more often than others.

We recently had an experience with a client who moved from one fully-insured carrier to another which raised an eyebrow. As a result of the change, a member's continuous glucose monitoring device was no longer covered at the same level it was with the previous carrier.

With the new carrier it was going to cost the member close to $500 to replace their device. They were very concerned about it, so they reached out to us.

We went to work determining where and how they could receive the best price. Here’s where the raised eyebrow comes in:

When we called the drug manufacturer, they said, "We can't give you a price because we need to know what the insurance contract says."

When we called the insurance company, they said, "We can't give you a price because we don't know what pharmacy you'll use."

Here’s the concerning reality …

Prices vary drastically from one pharmacy to the next and are dependent on the insurance plan you have.

It's time to stop the madness. The price should be the price. An apple should be the same price at one grocery store to the next. There might be minor fluctuations, but there shouldn't be a 20-50% difference. In some cases, drug-price fluctuations can be as high as 150%.

If your employee gets prescribed medication and walks into the same pharmacy they've always gone to, they could be paying way too much. It not only affects their wallet, it affects YOUR health insurance costs.

HERE ARE TWO SIMPLE TIPS YOU CAN SHARE WITH YOUR EMPLOYEES RIGHT NOW TO HELP COMBAT THE PROBLEM:

TIP #1

The next time you visit your pharmacy, be sure to question the price of your medications. Ask how much it will be with insurance, and without insurance. The cash price is sometimes even less than your insurance plan’s drug copay.

SIMPLE HELPFUL TIPS

TIP #2

Then check GoodRx.com. GoodRx is a free resource that will tell you the cash price at your local pharmacies. You may be significantly overpaying for the same medication at a different pharmacy, and it will give you a strong basis from which to negotiate.

YOU DON'T NEED TO TREAT YOUR EMPLOYEES LIKE CHILDREN

Are you still treating your employees like children?

Do you feel you have to handhold them through the benefits selection process?

Each year during open enrollment you bring everyone in, sit them down, gush a ton of information at them, and then have them fill out paper applications to make their benefit selections.

When was the last time YOU filled out a paper application for something and sent it in the mail?

We just don’t do it like that any longer.

Empower your employees!

It can be hard to digest all of the information in just one open enrollment meeting. We encourage our clients to include their employees in the benefits conversation well ahead of renewal.

You might consider sending out a survey to take a pulse on what employees like, and what they dislike. And share those results with them. Let them know you heard them.

You can’t always implement everything they ask for, but you can build a strategic plan that allows you to make some positive changes in future years.

And paper applications are a thing of the past. Your employees need to be able to make their benefits selections online or on their phone, and on their time.

If you want to create an effective and successful team, it’s time to start trusting your employees and giving them the autonomy they need to make decisions.

We can’t help you from becoming your parent’s employer, but we can help you compare modern benefit strategies and communication methods.

RECIPE FOR SUCCESS

ROASTED BUTTERNUT SQUASH SOUP

Our “Recipe for Success” Newsletter wouldn’t be complete without another healthy fall-inspired recipe that I’m sure you’re going to love!

INGREDIENTS

1 large butternut squash (about 3 pounds), halved vertically and seeds removed

1 tablespoon olive oil, plus more for drizzling

½ cup chopped shallot (about 1 large shallot bulb)

1 teaspoon salt

4 garlic cloves, pressed or minced

1 teaspoon maple syrup

⅛ teaspoon ground nutmeg

Freshly ground black pepper, to taste

3 to 4 cups (24 to 32 ounces) vegetable broth, as needed

1 to 2 tablespoons butter, to taste

Toasted pepitas

INSTRUCTIONS

Preheat the oven to 425 degrees Fahrenheit and line a rimmed baking sheet with parchment paper. Place the butternut squash on the pan and drizzle each half with just enough olive oil to lightly coat the squash on the inside (about ½ teaspoon each). Rub the oil over the inside of the squash and sprinkle it with salt and pepper.

Turn the squash face down and roast until it is tender and completely cooked through, about 40 to 50 minutes (don’t worry if the skin or flesh browns—that’s good for flavor). Set the squash aside until it’s cool enough to handle, about 10 minutes.

Meanwhile, in a large soup pot, warm 1 tablespoon olive oil over medium heat until shimmering (if your blender has a soup preset, use a medium skillet to minimize dishes.) Add the chopped shallot and 1 teaspoon salt. Cook, stirring often, until the shallot has softened and is starting to turn golden on the edges, about 3 to 4 minutes. Add the garlic and cook until fragrant, about 1 minute, stirring frequently. Transfer the contents to your stand blender (or you can use an immersion blender).

Use a large spoon to scoop the butternut squash flesh into your blender. Discard the tough skin. Add the maple syrup, nutmeg and a few twists of freshly ground black pepper to the blender. Pour in 3 cups vegetable broth, being careful not to fill the container past the maximum fill line (you can work in batches if necessary, and stir in any remaining broth later).

Securely fasten the lid. Blend on high (or select the soup preset, if available), being careful to avoid hot steam escaping from the lid. Stop once your soup is ultra creamy and warmed through.

If you would like to thin out your soup a bit more, stir in the remaining cup of broth. Add 1 to 2 tablespoons butter or olive oil, to taste, and blend well. Taste and stir in more salt and pepper, if necessary.

If your soup is piping hot from the blending process, you can pour it into serving bowls. If not, pour it back into your soup pot and warm the soup over medium heat, stirring often, until it’s nice and steamy.

Top with toasted pepitas and additional ground pepper if desired.

NANCY GIACOLONE

Let’s connect for 15-20 minutes and I'll share how we are advocating for our clients to help them make sure they’re paying a fair price for their medications.

Your employees should feel confident that they’re getting the best price for their healthcare needs, including medications. I look forward to showing you how we help our clients do just that.

CALENDAR LINK