March 21, 2018
As prescription drug prices continue to rise, health insurers and pharmacy benefit managers have come under increased scrutiny of their rebate practices. United Healthcare released the following announcement regarding rebates beginning January 1, 2019.
Last week UnitedHealthcare announced plans to pass a portion of the value of our manufacturer drug rebates to our fully insured members and offer options for a solution for self-funded clients beginning Jan. 1, 2019 and on plan renewal thereafter.
This means people enrolled in fully insured group health benefit plans will have discounts applied to their medication cost at the point of sale.
The savings will apply to plan participants who are filling a prescription for a drug where the manufacturer provides a rebate. UnitedHealthcare will apply these discounts upfront, at the time of sale, to ensure people are paying the lowest amount possible under their plan. All rebate dollars that are not shared with members at the point of sale will continue to be used to keep premiums lower for all members.
We made the decision to implement Point of Sale Discounts as part of a broader enterprise effort to lead the industry in simplifying pharmacy benefits, expanding transparency, lowering drug costs for members, and improving the member experience.
We wanted to make sure you are aware of this information. Please see the attached press release for additional details. To learn more, contact your UnitedHealthcare sales or account management representative.
Want more information? Start a conversation with us.
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 […]