Insurers are adopting more cost-sharing measures, especially coinsurance, to shift the costs of expensive specialty drugs onto consumers who purchase plans sold on health insurance exchanges, according to a new analysis from Avalere Health.
To help defray the high costs of certain treatments and prescription drugs, like hepatitis C drug Sovaldi, insurers are figuring out different ways to cover the drugs and services by limiting who can have access to them, reported Kaiser Health News.
Insurers might want to say a big thank you to "60 Minutes" for airing a show Sunday night about the extremely high cost of cancer drugs. Many drugs used to treat cancers cost more than $100,000 a year, a large portion of which is often absorbed by insurers.
Specialty medications attribute to roughly one quarter of total pharmaceutical spending in the commercial market.If thistrend continues, it's possible that spending on specialty medication will make up half of all pharmaceutical costs by 2018, according to a new report from the University of Michigan Center for Value-Based Insurance Design and the National Pharmaceutical Council.
Specialty drugs have left insurers in a bit of a predicament. The companies want to provide access to these efficient and effective medications for treating chronic conditions like cancer, arthritis...
Harvard Pilgrim plans to stop covering specialty medications known as compounded drugs because it says the costs and safety concerns pose too great a risk.