Help Your Employees Navigate the High Cost of Prescription Drugs

As an employer, you play a crucial role in supporting your employees’ health and well-being, including helping them manage the high costs of prescription drugs. By implementing these strategies, you can help alleviate the financial burden of prescription medications for your employees, leading to improved health outcomes and increased workplace productivity.

5 Ways You Can Help

Consider implementing the following potential strategies to help your employees manage and afford their prescriptions:

1. Prescription assistance programs (PAPs)—These programs are designed to help individuals access necessary medications at reduced or no cost. Many pharmaceutical companies offer PAPs for their specific medications. By partnering with these companies, you can provide your employees with access to these valuable resources.
2. Prescription discount cards—Offering prescription discount cards can help employees save on their medication costs. These cards provide discounts on a wide range of medications and can be used at most pharmacies. They are easy to distribute and can be a quick way to provide immediate financial relief to your employees.
3. Enhanced health insurance coverage—Review and enhance your existing health insurance plans to include better prescription drug coverage. This might involve negotiating with your insurance provider to lower co-pays and deductibles for medications or adding a tiered formulary that includes more affordable generic options.
4. Employee assistance programs (EAPs)—EAPs can offer confidential support and resources for employees dealing with high medication costs. These programs can connect employees with financial counseling, medication management services and other support systems to help them navigate their prescription needs.
5. Education and communication—Educate your employees about the available resources and how to use them effectively. Communicate regularly with updates about new programs or changes to existing benefits. Providing workshops or informational sessions can empower employees to make informed decisions about their healthcare.

We’re Here to Help

Contact True Grown Insurance Services , LLC today to learn more about employee benefits and how you can help your workforce access essential health care and manage associated costs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.