As an agent or a plan administrator, it is important to understand how PBM contracts compare – “not just in terms of the numbers calculated for things like discounts and rebates, but also in terms of how they function and align (or fail to align) with your client’s interests,” states an article published on benefitspro.com.
This article goes into detail about the differences between the most common types of contracts, traditional and pass-thru, and what you should be watching for.
As a reminder as you read the article, the MedBen Rx approach is that of acquisition cost indexing, or referred to in this article as Actual Acquisition Cost Pricing, which “is focused on eliminating unnecessary margins, fraud, waste, and abuse to better serve plan sponsors and members.”
In 2019, clients who switched to MedBen Rx saved an average of 14.8% in total prescription spend.
To learn how you can save through MedBen Rx, contact your broker, or MedBen’s Marketing Department at 888-627-8683 for a free cost analysis.