Elixir Launches Specialty Generic Enhancement that Leads to Thousands in Annual Savings for Plan Sponsors and Members
“As specialty drug costs continue to climb and account for a significant amount of drug spend, Elixir is continually looking for innovative solutions for our clients,” said
Arbuckle explained that Elixir created a list of specialty generic drugs that are eligible to receive a
This enhancement is being added to Elixir’s existing managed copay solutions, which tracks copay assistance from manufacturers that is applied to specialty prescriptions, giving members the benefit of assistance to afford branded specialty medications and ensuring clients do not begin bearing the majority of the medication cost before the deductible is actually achieved. In 2021, this program delivered over
“Many people aren’t aware that there are specialty generic drugs available, especially with all of the television ads for the brand versions. Additionally, copay assistance available for most branded specialty drug products often disincentives members from selecting lower-costing generic options on their own. However, utilization of specialty generics can save plan sponsors up to 30% per claim,” Arbuckle said. “Our specialty generic solution allows both the plan and member to save on drug costs, while still receiving the benefit of the potentially life-saving drug. Additionally, these cost savings help to increase member adherence to specialty medications, which can limit expenses from healthcare complications.”
As an example for how this enhancement works, if you have a brand drug that costs
*This was a book of business savings and is not a guarantee of future savings.
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Source: Elixir