April 11, 2018
As we proceed through the year, The Fedeli Group is committed to keeping you informed on industry trends and carrier performance. CVS Health, a major player in the pharmacy benefit management (PBM) industry recently released their annual Drug Trend Report. Among the highlights presented were the following:
• Reduced drug trend for commercial clients to 1.9%.
• Contained drug price growth to 0.2%.
• Lowered monthly drug cost per member by 10 cents to $11.89.
• Increased member adherence on key categories like diabetes, hypertension and hyperlipidemia by as much as 1.8%.
• Plans to address expensive Specialty drugs through targeted programs.
• Committed to help keep drugs affordable through their Saving Patients Money initiative that provides greater pricing transparency.
October 20, 2022
On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,050 for plan years beginning in 2023, an increase of $200 from 2022. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $610 (20% of the $3,050 salary […]
August 14, 2018
The Affordable Care Act (ACA) requires insurers who plan on modifying plan premiums to submit their rates to either the state or federal government for review. This applies to plans included on state and federal healthcare insurance exchanges. The rate review process is designed to improve insurer accountability and transparency. It ensures experts are evaluating whether the proposed rate […]