Employers Unaware of Pharmacy Rebates

This is a news story, published by KFF Health News, that relates primarily to Wegovy news.

Wegovy news

For more Wegovy news, you can click here:

more Wegovy news

News about health policy

For more health policy news, you can click here:

more health policy news

KFF Health News news

For more news from KFF Health News, you can click here:

more news from KFF Health News

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best health news, business news, entertainment news, and much more. If you like this article about health policy, you might also like this article about

pharmacy benefit managers

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest high drug prices news, drug companies news, news about health policy, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

drug benefit managers

KFF Health News

•

Survey: Most employers don't know what pharmacy benefit managers do with drug rebates

Summary

Nutrition label

82% Informative

Pharmacy benefit managers say 95% to 98% of rebates they collect from drugmakers flow to employers.

Drugmakers say they raise list prices so high in order to afford the rebates that PBMs demand in exchange for placing the drugs on formularies that make them available to patients.

The pharmaceutical industry has tried to deflect criticism of high drug prices by saying much of that income is siphoned off by PBMs.

The KFF survey found that companies’ annual premiums for coverage of individual employees had increased from an average of $ 7,739 in 2021 to $ 8,951 this year , and $22,221 to $25,572 for families. Among employers’ greatest concerns was how to cover increasingly popular weight loss drugs that list at $ 2,000 a month or more. Only 18% of respondents said their companies covered drugs such as Wegovy for weight loss. The largest group of employers offering such coverage — 28% — was those with 5,000 or more employees..