High cost of prescription drugs remains a source of frustration for employers, especially with a pipeline of cell and gene therapies that are expected to create much higher claims. Specialty biotech drugs have However, with high-dollar claims revolutionized treatments for becoming more frequent, it conditions such as HIV, multiple comes down to an employer’s sclerosis, cancer, and rare overall risk tolerance as a genetic conditions. They are self-funded plan sponsor. 50% also very, very expensive. In The question becomes: is recent years employers have there a preference to pay a of employers surveyed reported double-digit increases capitated rate or a higher in their specialty drug costs. Cost premium for claims that may say they are taking adaptation for those who need never materialize, to avoid the focused action to manage higher-cost prescriptions or shock waves of million-dollar 9 specialty drug costs. more costly medical treatments and above claims? There is can put employers at risk. On no right or wrong answer to average, insurance covers a this question. It simply comes larger share of retail prescription down to what works best for an drug spending than a decade employer, their employees, and ago, while consumers’ share has the plans they choose. 8 leveled o昀昀 in recent years. 2023 Benefits Trends: The evolving workplace 64