Despite rapid increases in prescription drug spending, many health plans seem to be happy with their pharmacy benefit managers.
The International Foundation of Employee Benefit Plans, Brookfield, Wis., has published survey data supporting that conclusion in the latest edition of “Pharmacy Benefit Managers.”
The foundation collected data from 163 U.S. plans.
About 58% of the participating plans use PBMs.
Although 14% of the participating plans that have PBMs intend to change PBMs within the next 12 months, 89% say they are satisfied or very satisfied with their current service providers, according to the IFEBP.
When plans hire PBMs, 69% require PBMs to pass through all manufacturer rebates, discounts, fees and other payments; 63% include financial and performance guarantees in their PBM contracts; and 63% require an unrestricted right to audit PBMs.
IFEBP researchers found that more than three-quarters of the respondents use mail-order drug services, drug formularies, generic drug promotion programs and tiered cost-sharing programs to try to hold down drug costs.