You are a benefit plan manager and you have noticed that claims costs for the pr
ID: 2725494 • Letter: Y
Question
You are a benefit plan manager and you have noticed that claims costs for the prescription drug plan have increased at a much faster rate than other health claims costs. Which of the following strategies and plan design changes could be employed to reduce your prescription plan costs in the future? (Select all that apply.)
a.increase the copay for name-brand drugs
b.reduce the quantity of a drug that can be dispensed at one time
c.reduce the annual deductible
d.negotiate a discount with a large retail or mail-order pharmacy
Explanation / Answer
a)
Copay is the amount you pay for your each prescriptions. After the payment of deductables.In prescription drug plan there are different levels of copayments. Generic drugs copayments are low than branded drugs. increase in branded copayment can help in managing high claims costs for prescription drug plan. High cost of copayments of branded drugs force to go to the low tire of drug group.. That may reduces total claims cost.
b)
Medical claim company can not do any thing with quantity of drug.
c)
Reduction in annual deductables can increase the mediclaim buyers. Increase in number of buyer increase total deductables and copaymentsm and it may reduce total cost on prescription drug plan.
d)
Company can make a tie and askfor discount from large retailer.,where purchase of prescription drug is higher.
answer is a),C) and d)
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