Steve Boese’s Post

This is a real problem out there, and while the idea always seems to be "Wow, that's expensive!", sometimes in benefits don't think about all of the consequences of that decision. How can we create an environment that takes better care of people? If we do the right things, it is crazy how it all seems to work out! #cfoinsights #ceoinsights #hr #hrbenefits #thinkingdifferently #employeeengagement

Amid ongoing inflation pressures, employees and employers alike can expect their health care costs to increase between 6% & and 8.5% in 2024. The cost of specialty drugs is the fastest growing expense to employer sponsored health plans. Ozempic (GLP-1) was designed to help treat Diabetes and has now been used off-label for weight loss. Employees and dependents (ages 12+) can be prescribed Ozempic, covered under the health plan, if they are deemed pre-diabetic by their PCP. More than 1 of 3 Americans would qualify as pre-diabetic.     Ozempic is administered by injection, via a pen that lasts about 30 days and costs between $900 to $1,300. A year of pens can run from $10,000 to $16,000.    New York Times stated that “to prescribe millions of Americans Ozempic at its current price would stress the health care system to its breaking point. If 80 percent of the people with obesity would start to take this drug, it would bankrupt the health care system.”    Employers, make sure you are educating and preparing yourself for the future of Employee Benefits. https://lnkd.in/gAWbeQgE

Rising healthcare costs are a major concern, with 2025 projections showing increases of up to 9% per employee. Employers can take action through strategies like utilization control initiatives, promoting healthy lifestyle changes, and offering mental health resources. It’s crucial to align pharmacy and medical benefits and explore direct pricing for medications like GLP-1 drugs. Is your benefit broker speaking to you about these strategies? If not, they should be. As a proactive broker, we are here to help employers navigate these challenges and find effective solutions. #HealthcareCosts #EmployeeBenefits #Wellness #HR #BenefitStrategy #ProactiveBroker #SSGMI #StrategicServicesGroup

Excited to share our latest blog post on the current events and trends in employee health and benefits! Stay informed and gain valuable insights that will optimize your program. #EmployeeHealth #BenefitsTrends

We continue to monitor and have discussions about the decision making process around these drugs which have many benefits and are viewed favorably. More to come! #cfoinsights #ceoinsights #thinkingdifferently #hr #hrbenefits #employeeengagement

Ever pondered the real essence of employee benefits? How do you tangibly demonstrate your commitment to your employee’s health and wellness? We are alert at Corporate Synergies, listening intently to our clients and gearing up for changes. In today's landscape, fertility benefits hold immense significance. As brokers, we have the power to help our clients champion these needs without straining finances. Take a look at my article below... Let's initiate the dialogue. What's resonating among your workforce? #EmployeeWellness #FertilityBenefits #HRInitiatives #CorporateSynergies #FoundationRiskPartners Foundation Risk Partners Philly SHRM BenefitsPRO Employee Benefit News

Attention HR professionals: Recent lawsuits against companies like Johnson & Johnson for mismanaging employee health plans serve as a stark reminder of potential liabilities. Employers face legal challenges for overpaying on benefits, urging the need for heightened oversight and prudence in selecting service providers. Working with brokers who lack resources or capabilities might be causing more harm than good. Take steps to mitigate risks by considering all angles, including interviewing new benefits brokers. #HR #EmployeeBenefits #LiabilityAwareness

In the latest issues of International Foundation of Employee Benefit Plans (IFEBP) Benefits Magazine, Capital Rx's Kristin Begley, PharmD (Chief Commercial Officer) and Mike Miele, FSA, MAAA (SVP, Insured Services), penned an article discussing the #PBM procurement process, pharmacy #cost drivers, and how #plansponsors can achieve more predictable total costs (net of all #discounts and #rebates). 🎯 Kristin and Mike address one of the primary cost drivers for most plans, #drugmix, writing, "Most large rebates come from the most expensive brand and specialty drugs, incentivizing the PBM to dispense those drugs, yielding a more expensive drug mix, to meet the guarantees instead of trying lower cost alternatives. Plan sponsors must understand that larger rebates don’t necessarily help the plan’s economics in the long run." Thank you to the IFEBP for all you do! 🙌 #knowledgeshare #PBMprocurement Link to the latest issue of Benefits Magazine (sub $): https://okt.to/RJi3Ms

I have always wondered about this and have my theories! #cfoinsights #ceoinsights #thinkingdifferently #employeebenefits #hr #hrbenefits

Discover the key trends and challenges shaping the employee health and benefits market in my colleague Garrett Gomez's blog here: #MarshMMA #HealthCare #EmployeeBenefits