Health care costs have become increasingly unaffordable for patients – and now companies that offer employer-sponsored plans feel that economic pressure too.
New projections predict inflation will cause health care costs to double for employer-sponsored plans, which means patients will see higher premiums, deductibles, and out-of-pocket costs. At a time when many patients already have a hard time meeting payments and high deductibles, any additional increases in insurance costs can be catastrophic for anyone’s budget.
Luckily for businesses and their employees, patient-centric health benefit design helps protect employers from rising costs and offers better coverage for patients. We’ve witnessed businesses offer plans to employees with little to no cost-sharing for patients – like this business, Shine Solar. This kind of insurance design makes a huge difference for patients with chronic conditions.
In case you missed it, we’ve featured many of these success stories on our Health Plan Hero website. During open enrollment season, we want to highlight a new approach to health insurance that protects both the physical and financial well-being of patients.
According to a 2020 report, an estimated 22-26 million adults provide unpaid care to a family member or friend, helping with daily activities, personal and medical care, as well as daily chores. Interestingly, an expansion of medical care at home and the complexity of the healthcare system itself means family caregivers pick up the role of care coordinators, overseeing their loved one’s medical care. Sixty percent of these caregivers were employed and provided over 20 hours of care on a weekly basis.
"The not-so-glamorous side of traveling while disabled... well, being disabled period. My #dysautonomia causes me the most problems that I can't prevent or control. It leaves my autonomic nervous system (ANS) dysfunctional. The #ANS is responsible for the things we can't control in our bodies: breathing, temperature regulation, biological clock, heart rate, sweating, digestion, etc. I can feel "sick" from eating, drinking, taking a shower, or even from being startled."
In observation of American Pharmacists Month, we spoke with Congressman Buddy Carter, a pharmacist himself, on how his experiences shaped his work in Congress. Pharmacists play a vital role in health care and are often the care team members patients see most often.
Congressman Carter reflects on the impact pharmacy benefit managers have on patients in this behind-the-scenes segment of our show airing this Friday on the Patients Rising Podcast.
“There was a study that was done earlier this year, about six months ago, it was done by the Berkeley Research Group, and what they found is that only 37% of the price of medication goes to the pharmaceutical manufacturer, which begs the question, where does the other 63% go to?
And we know where it goes. It goes to the middleman, it goes to the PBM. And the problem that we have right now is the vertical integration that exists, where the insurance company owns the PBM and also owns the pharmacy. And with that vertical integration, you're always going to have high drug prices. That's why it's gotta be broken up. No PBM should own a pharmacy.”
One last piece of news before you go. Health experts are predicting that this flu season will be one of the worst ones we’ve seen in recent years. According to the CDC’s Weekly Flu Map, Texas, Tennessee, Georgia, South Carolina, the District Of Columbia, and New York City are already seeing unusually high levels of the flu.
Other respiratory viruses, like RSV, are on the rise, which is particularly concerning for individuals with chronic conditions like asthma. One way you can help protect yourself, and others, from coming down with the flu is by signing up to get your flu shot. Talk with your health care team and find where you can get a flu vaccine near you through the CDC’s Vaccine Finder to stay healthy this fall.
We’ll be back in your inbox next Wednesday with the latest health care news for the chronic disease community.
Sincerely,
Terry Wilcox
CEO & Founder Patients Rising
Patients Rising, 700 12th Street NW Suite 700, Washington, District Of Columbia 20005, United States, 202-751-1186
