Employers should review their drug plans annually to make sure they’re getting value for money, according to a speaker at the recent Face to Face Drug Plan Management forum.
“It’s good drug plan management hygiene,” said Kim MacFarlane, assistant vice-president of group benefit product at Manulife Financial Corp.
Even if the unwieldy nature of drug plans makes quick design changes difficult, she told the audience at the Dec. 14 event that plan sponsors can put themselves in a better position by identifying problem areas.
“There’s lots of capacity within the drug plan spend to remove some of the elements that don’t really deliver additional value when it comes to health-care outcomes,” said MacFarlane, who spoke as part of a panel of experts.
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