On September 13, 2020, President Donald Trump signed an executive order that aims to lower drug costs for Medicare recipients. The action comes nearly two months after the President signed a separate order, which directed the Secretary of Health and Human Services (HHS) to take necessary steps to deliver lower …
Strategies to Save on Prescription Drugs
Prescriptions are expensive and it’s easy to become overwhelmed by the high rising costs in today’s market. The United States spends twice as much on prescription drugs as other high-income nations; and the average American spends approximately $1,200 each year on prescriptions drugs. Whether you are covered by insurance through …
President Trump Signs Executive Orders to Lower Drug Prices
On July 24, 2020, President Donald Trump signed four executive orders directing the Secretary of Health and Human Services (HHS) to take the necessary steps to deliver lower costs on prescription drugs for American patients, including insulin and epinephrine. The executive orders issued by the President include: Lowering Prices for …
Federal Agencies Finalize Resources for Mental Health Parity Compliance
The Departments of Labor (DOL), Health and Human Services and the Treasury Departments have finalized resources to promote compliance with the Mental Health Parity and Addiction Equity Act (MHPAEA). These resources include: Final FAQs on mental health parity; A final model form that plan participants may use to request information …
IRS Expands Preventive Care for HDHPs to Include Chronic Conditions
On July 17, 2019, the IRS released Notice 2019-45 to add care for a range of chronic conditions to the list of preventive care benefits that can be provided by a high deductible health plan (HDHP) without a deductible. Individuals who are covered by an HDHP generally may establish and …
Could Biosimilars Slow Rising Pharmaceutical Costs?
As companies continue to struggle with rising healthcare premiums, more and more attention is being paid to what is driving the increases. Even companies with low or diminishing medical claims are seeing their rates climb, leaving the frustrating question of Why? The conclusion being reached by many is rising pharmaceutical …