Millennium RX Carve Out Update!
As many of you know, Millennium
Administrators, Inc. offers Stand-Alone Rx benefits
for employer groups with 50 employees or more. Most
of the stand alone RX plans are a self-funded model
the employer only pays for “what they use”.
For those clients presently enrolled in the
Millennium Administrators RX plans, you should note
that specialty drugs continue to grow at a rapid
pace! Specialty drug spending grew by 16.9% in
2005-significantly faster than the 5.4% average
trend for drug spending as a whole. These drugs are
used to treat a broad array of complex diseases,
including rheumatoid arthritis, hemophilia, cancer,
hepatitis C, anemia, cystic fibrosis and growth
hormone deficiency, and represent an enormous cost
to employers’ health spending. In order to control
the spending trend in these categories, it would be
recommended that you consider a pre-cert mechanism
or a benefit cap on these types of medications. Call
us today to evaluate your present plan design!
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