Employers’ Experiences with Managing Prescription Drug Benefits
Problem
Understanding the employer perspective on PBMs is crucial in the current policy landscape.
The Pharmaceutical Care Management Association (PCMA) commissioned a survey to gather insights on employer experiences with managing prescription drug benefits and the role of pharmacy benefit managers (PBMs). This research comes at a time of significant policy discussions about PBM practices and regulation. While previous studies have reported on employer experiences with PBM services, ongoing Congressional interest in PBM oversight has highlighted the need for additional research to better understand the complex relationships between employers, PBMs, and employee drug benefit management.
Solution
NORC conducted a survey of employers to provide objective data on their experiences managing prescription drug benefits, including their partnerships with PBMs.
NORC responded to PCMA's request by developing and implementing a 43-question survey to capture various employer experiences with managing their prescription drug benefits, including their relationships with PBMs. The survey instrument was carefully constructed to ensure clarity and objectivity.
The survey focused on three key areas:
- Employers’ approaches to and experiences with prescription drug benefit design
- Employers’ experiences and satisfaction with PBMs
- Employers’ use of PBM rebates
The data collected provides valuable insights into employer perspectives on PBMs, contributing to a more informed understanding of their role and impact within the broader health care system.
Result
The survey results indicate that employers largely have positive experiences with PBMs and have used rebates to offset organizational and employee costs.
Key findings include:
- 96 percent of respondents feel confident in their organization’s ability to make decisions regarding prescription drug benefits correctly.
- 90 percent of survey respondents expressed satisfaction with their PBMs’ clarity and transparency of contract terms.
- 88 percent of survey respondents expressed satisfaction with their PBMs’ ability to provide the lowest costs for employees at the pharmacy counter.
- 90 percent of employers that received rebates in the last 12 months applied them towards at least one activity to offset the cost of their prescription drug benefits. Among those employers, 45 percent directed rebates towards at least one activity specifically aimed at reducing out-of-pocket costs for their employees.
