Health Payer Specialist: Snowballing Prescription Prices Impact All the Largest Payers
Blue Daily
| 1 min read
A recent article in Health Payer Specialist confirmed something we have been saying for a while now – Accelerating prescription drug prices are unsustainable, and are taking up a larger portion of the health care premium dollar.
The article shows how much more of each dollar the top 10 health insurers are paying in drug costs. This cost trend has affected us too. Blue Cross Blue Shield of Michigan paid 15% more in pharmacy claims in 2024 than we did in 2023.
These added costs impact premiums and add to members’ out-of-pocket costs. When drug prices go up, everybody pays. We’ve linked to the article, although it is behind a paywall. More information on prescription drug cost trends can be found here:
- Prescription Drug Prices: A Barrier to Affordable Health Insurance
- Prescription Drug Prices Are Driving Up Health Insurance Costs—Here’s What We Can Do
- Study: Blue Cross Backed Prescription Drug Initiative Drives Down Out-of-Pocket Costs by 64%
- Study Shows Prescription Drug Pricing Varies Among Hospitals
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