E2E

	E to E provides information from a business perspective that will educate regional employers about significant health care issues to help them make decisions benefiting their organizations and employees.

Special Issue: September 2005

Controlling Pharmacy Costs—What You Need to Know

Pharmaceutical spending in the U.S. is approaching $100 billion a year, with some estimates suggesting that by 2013 drug spending will be almost $520 billion, or as much as 15+% of healthcare costs for that year. Brand name prescriptions drugs are expected to increase by 11% in 2005, with the expectation that generic prices will increase by 9.7%.

How do businesses plan for rising costs?
Employers are now depending more than ever on their pharmacy benefit managers (PBMs); companies that administer drug benefit programs for employers and health insurance carriers. The goal of PBMs is to work with various companies and government agencies to provide managed prescription drug benefits, and to negotiate prices with drug manufacturers and garner rebates on large volume orders.

There are a number of plan designs and management tools available to help control pharmaceutical costs. Tablet splitting, dose optimization, mandatory generic drug policies, and over-the-counter product savings options are just a few alternatives that can be considered.

How to begin? Let us help.
If all of this is leaving you confused, there is an answer. On September 21, NIHP is presenting a session called Creative Cost Control—Controlling Pharmacy Costs that will cut through the terminology, and clearly explain how you can implement a successful PBM plan for your employees.

For further information, go to the Northern Illinois Health Plan website or call (815) 599-6209 for more information or to register by phone. The registration deadline is September 19.

Creative Cost Control—Controlling Pharmacy Costs Seminar Offered by NIHP

Northern Illinois Health Plan (NIHP) is sponsoring a seminar on controlling pharmacy costs on Wednesday, Sept. 21, at Highland Community College in Freeport. It is designed to help area businesses learn how they can control prescription drug costs through benefit design. Information also will be presented on the new Medicare Part D prescription drug plan and employers' responsibilities for complying with these regulations.

Creative Cost Control—Controlling Pharmacy Costs is part of a Plan Diagnostic Series organized to help businesses make better health plan decisions. Three speakers will present information at the seminar:

Lindy A. Pearson, R.Ph. from Pharmaceutical Technologies, Inc. in Omaha, Neb., will speak on prescription drug benefit programs, addressing market trends, plan designs and management tools for plan savings.
Jane Buck from the Stephenson County Senior Center will present an overview of the Medicare prescription drug program (Medicare Part D).
Peggy Fuller from the Northern Illinois Health Plan (NIHP) will discuss the employer's responsibilities in complying with the Medicare Prescription Drug plan as well as the specific steps they must take to comply.

The session will be held from 8:30 a.m. to noon. Content will be especially pertinent for insurance brokers, human resources professionals, benefits coordinators, and top-level management at any business that offers health care packages.

Those interested in attending Creative Cost Control—Controlling Pharmacy Costs may sign up for this free session by going to Northern Illinois Health Plan website or calling (815) 599-6209 for more information or to register by phone. The registration deadline is Sept. 19.

For more information contact us at:
(800) 723-0202 or NIHPCustomerService@fhn.org

1006 W. Stephenson St., Freeport, IL 61032

Add your address to this mailing list
Remove your address from this mailing list
Make a suggestion for future content or provide feedback on this issue

Contents

Controlling Pharmacy Costs—What You Need to Know

Further Reading

Creative Cost Control—Controlling Pharmacy Costs Seminar Offered by NIHP