Plan Ahead for Open Enrollment

Employers: It's that time of the year again. 2018 open enrollment typically starts around November 1, 2017 and runs through December 15, 2017. This is the time for employers to make any necessary changes to their current healthcare and prescription benefit plans for the upcoming year. Because of the substantial amount of time and effort involved in open enrollment season, there are a few things that employers should do to plan ahead and be prepared for the rapidly approaching enrollment period.

Time is of the Essence
Before open enrollment begins, it is essential for employers to begin reviewing their current medical and pharmacy benefits NOW. In fact, employers really should begin planning their open enrollment four to five months in advance. Depending on the size of your business, the number of employees your company has, and the depth of coverage that your current benefits offer, the auditing process can take some time, and leaving it until the last possible minute would not be wise. Planning ahead will make your enrollment period far less stressful when it comes around.

Consider the Benefits
The prescription drug benefits landscape is constantly changing, and it is up to each employer to create a strategy to adapt to the ever increasing cost of medications. This means that each year, employers have a responsibility to go over the current plans they offer to their employees and review what pharmacy plan designs (both copay and clinical) are driving the lowests costs and healthier employees. Did you know that if employees cannot afford their medication, they become non-adherent, which can cause higher medical expenses due to more ER visits and hospitalizations? 

This is the time to ask questions such as: How can I help my employees pay for their high cost medications for conditions like diabetes, cancer or rheumatoid arthritis? What specialty medication assistance programs are available? Could a pharmacist help my employees find less expensive medications? How does “hyperinflation” impact my bottom line Rx costs, and what can I do to reduce costs? How can I help my part-time employees afford their medications? Synergy Pharmacy Benefit Consultants can help you review your current PBM contract and determine the best options, including proactive clinical programs and services for the upcoming year.

Educate Your Employees
Employers should provide their employees with the education they need to make wise health care decisions and the tools necessary for them to successfully navigate the healthcare system. It's important for employers to communicate the overall value of offered benefits to employees. Your employees should be informed about trends in the insurance industry, whenever you add more value to their health care plan, and how much you are contributing for the offered benefits. A good PBM consultant can help explain benefits and policies to you and your employees in a way that is understandable and that will provide educational information so employers and employees can make educated choices when using the prescription drug plan in place.

Big Savings for Employers
By conducting ongoing pharmacy claims audits, employers can protect their prescription drug program from purposeful fraud or accidental waste. A pharmacy claims audit is typically conducted to drive longer-term health plan objectives as well as to receive immediate, short term returns or a one-time recovery of funds. These audits also protect your workforce from unnecessary expenses and possible denials of coverage which could prove financially disastrous.

Talk to Synergy Pharmacy Benefit Consultants About a FREE Claims Analysis!
Our services deliver state-of-the-art auditing technology to provide immediate feedback on PBM performance, including contract compliance and opportunity analysis for cost management.  With pricing in place, Synergy ensures the best possible outcomes through high-cost management and contract audits. We are uniquely positioned to manage the entire spectrum of PBM services – from selection to annual audits – to ensure employers receive benefit options and services typically reserved for exclusive entities. We offer affordable benefit management solutions for self-funded employers that can help save big! Let us provide a FREE no-obligation claims analysis to see if we can help lower your prescription drug costs!

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Synergy Pharmacy Benefit Consultants, LLC
2111 Bagnell Dam Blvd #37
Lake Ozark, MO 65049


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