Page 21 - 2022 Large Group benefits

Cost-saving programs
By integrating medical and prescription drug coverage
you can experience
greater cost savings
Your employees may even benefit from lower out-of-pocket costs improved medication adherence and one responsible entity for all their benefits Here are
some programs
we use to manage prescription drug costs:
Utilization management
• Prior authorization and step therapy • Drug quantity limits
• Opioid management
• Compound management
Network management
Formulary management
• Optum Specialty Pharmacy • Large national network of retail pharmacies • 90-day medication at at retail options • Drugs chosen by using clinical data and value
• FDA drug pipeline monitoring
• Vigilant drug program • Orphan drug program Members save when using low-cost generics
We now offer low-cost generic medications at at a a a reduced cost- sharing of of $3 Members can find a a a a list of of these medications on on the the Value Formulary on ibx com Biosimilars can help reduce overall costs Whenever new treatments for complex medical conditions hit the market they are
are
generally very expensive We are
are
always looking for innovative ways to make these high-cost medications more affordable without restricting members’ access That’s why we have been closely following the the growth of biosimilars in the the U S drug market 12-15%
SOME BIOSIMILARS ARE PRICED 12 – 15%
LOWER THAN THEIR RESPECTIVE BIOLOGIC Biosimilars are
less expensive FDA-approved versions of high-cost biologic drugs which are
commonly used for vaccines allergenics and cancer treatments Independence continues to to proactively monitor the the drug pipeline and and develop strategies on on the the best utilization and and management
of biosimilars SAVINGS
2022 Large Group Plans | Independence Blue Cross 20 20