April 26, 2023
Specialty drugs are now the largest and fastest-growing segment of the U.S. pharmacy market and will continue to grow by 8% per year due to new specialty products coming to market, continued expansion of the specialty population, and the increasing costs of these medications. Employers need a Carrier with the flexibility to evolve solutions that address high-cost conditions. These types of large-scale challenges are what spark innovation at Cigna to offer solutions that confront the rising cost of specialty medications – and their impact on total medical costs for employees.
Cigna Pathwell Specialty addresses one of the top healthcare cost drivers – specialty medications – and allows Employers to reinvest in their employees, helping make healthcare more affordable. This new solution helps control specialty medication spending across the medical and pharmacy benefit, where specialty drugs are obtained and administered, and by coordinating care for customers who need support the most.
As their new standard specialty solution, Cigna Pathwell Specialty is made up of several components, including:
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April 19, 2023
What Employers Need to Know
An estimated 600,000 Arizonans are at risk of losing their Medicaid coverage now that the COVID-19 Public Health Emergency (PHE) and Medicaid continuous enrollment will be ending. During the PHE, states generally could not disenroll Medicaid participants.
Starting April 1, 2023, and continuing through July 13, 2024, many people will no longer qualify for Medicaid because of the redetermination (eligibility verification) process. About 40% of those losing Medicaid coverage are projected to be eligible for employer-sponsored plans, according to industry research.
As an employer, here’s what you need to know:
- Losing Medicaid coverage is a qualifying event. Employers are generally required to offer a special enrollment period to eligible, affected employees.
- Individuals who are disenrolled in Medicaid may be eligible to sign up for coverage through the ACA Marketplace or Medicare.
- Communicating information about redetermination to your employees is critical to help avoid a lapse in coverage. Studies show that uninsured individuals are less likely to seek or receive care, especially preventive care. This may lead to a decline in health, increased absenteeism, decreased productivity, and ultimately higher costs for employers.
- Detailed Medicaid FAQs can be found at www.azahcccs.gov/Renewals (bottom of page)
We at Ronstadt Insurance, LLC are here to help you and your employees find the right plan if they lose Medicaid coverage. In addition to your employer-sponsored plan, click here for ACA Marketplace plans for individuals and families. If you have questions, please contact us at 520-721-4848 for more information.
