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Apex Benefits is hosting another Pharmacy Benefits Lab at our office 9400 Priority Dive Way W Dr Indianapolis, IN 46240. This is for employers who self-fund their employee health benefits and are not fully insured.

 

CENTRAL INDIANA EMPLOYERS INVITED TO ATTEND FREE WORKSHOP ON REDUCING PHARMACY BENEFITS COSTS

Central Indiana area human resource professionals and employee benefits administrators are invited to take part in a free Pharmacy Benefits Lab on Wednesday, October 21, 2020 at Apex Benefits.

This workshop is intended to help professionals who manage self-funded employee benefits programs learn how to interpret complex pharmacy benefit management (PBM) contract language. Upon having a better understanding of these contracts, workshop participants will be able to identify areas of costs savings for their employers.

For 85 percent of companies across the country, managing the increasing costs of pharmacy benefits has been a predominant concern in 2020, according to the National Business Group on Health (NBGH). The first step in gaining control over these costs is to understand PBM contracts and negotiate for better terms.

“I can’t tell you how many employers are unable to answer the question, ‘How much are you paying your PBM?’ because PBMs do not fully disclose how much revenue they receive,” states Erin Albert, PharmD, JD, CPBS, leader of the Pharmacy Benefits Consulting Practice for Kinetiq Health. “We want to remove the cloak of complexity from these contracts and help benefits administrators exert greater negotiating control over their PBM agreement terms. We’ve seen clients identify average savings opportunities of 35 percent on their pharmacy benefits costs.”

To attend, participants must be responsible for managing employee benefits for a self-funded organization and they must bring a copy of their PBM contract to the workshop. The event is free and there is no obligation to Apex.

The event will be held from 8 a.m. to 2 p.m. at Apex Benefits, 9400 Priority Way West Drive, Indianapolis, IN 46240. The in-person event will follow best practices for ensuring the safety of our attendees. If you have questions or are interested but would prefer to discuss your PBM contracts virtually, please email Erin Albert at pharmacy@apexbg.com.

For more information and to register, visit https://apexbg.com/pharmacy-benefits-lab/.

ABOUT APEX AND KINETIQ HEALTH

Apex is Indiana’s largest employer benefits advisory firm dedicated exclusively to the management of group health and welfare plans. Our team of benefits strategists empowers organizations to make effective benefits decisions through data-driven decision modeling, health-focused employee engagement and talent management strategies. Kinetiq Health is the analytics, workplace wellness and pharmacy benefits division of Apex. www.apexbg.com

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