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September 2006

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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