PLANSPONSOR - February - March 2022 - 15

treatments, " the report says. " Infusions,
cancer treatments and gene therapies,
which are not processed through a pharmacy
and are administered in a hospital
or clinic setting, range in cost from tens of
thousands to millions of dollars annually. "
Fully insured employers should have
conversations about some type of alternative
funding for pharmacy costs, Hall
says. For example, pharmacy benefit
managers have traditionally allowed for
prior authorization to mitigate high-cost
medications, a process by which specialty
drugs need to go through clinical approval
before being dispensed to a plan member,
notes the USI report.
Some employers, particularly those
with lower-wage employees, have begun
using " foundation " programs-a type
of manufacturer assistance program
provided by the pharmaceutical industry
to help health plan members cover the
costs of these expensive drugs. For selffunded
employer plans, reviewing pharmacy
contracts could result in an 8% to
10% savings in premiums, Hall says.
Using virtual and digital care is also
helpful in keeping costs down, Stone says.
Providers might charge more for in-office
visits, so employers should encourage
virtual care/telehealth visits.
For sponsors of self-funded plans,
Stone says, it is worth thinking about
implementing a working spouse surcharge.
She says WTW sees some plan
sponsors impose a surcharge to cover
spouses who have access to coverage
elsewhere but decline it.
On an additional note, Stone says,
many employers are thinking about equitable
cost sharing when setting health care
budgets. " They're considering affordability
for the lower-wage workforce, " she
says. " For example, an employee earning
$60,000 or less might pay less for the
same coverage as someone making
more. Making sure workers have equitable
access to coverage ensures workforce
continuity. And there's no discrimination
risk if benefits are not favoring
higher-paid people. " -Rebecca Moore
TIDBITS
Plan Sponsors Focus on DE&I
... Evaluate
49%
communication
materials
32%
To enhance diversity, equity and inclusion in their
retirement plan, sponsors said they might ...
9% 10%
... Leverage
employee
groups to discuss
well-being
topics
... Measure wellness
by different
employee
segments
... Set diversity
and inclusion
goals, to be
measured on a
recurring basis
... Reassess the
culture and
diversity of
asset managers
used in plans
... Reassess
retirement/
investment
committees to
broaden
representation
n Companies
that have
completed
enhancements
n Companies
very likely
to complete
enhancements
n Companies
moderately likely
to complete
enhancements
n Companies
not at all likely
to complete
enhancements
Source: Alight Solutions, " 2022 Hot Topics in Retirement and Financial Wellbeing "
1% 20%
62%
17%
6%
36%
46%
12%
28%
39%
19%
14%
43%
34%
15% 8%
17%
46%
26%
11%
PLANSPONSOR.COM February - March 2022 15
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