By Kellie Lunney – January 12, 2017
All insurance carriers participating in the Federal Employees Health Benefits Program in 2018 should continue their efforts to effectively manage prescription drug use among beneficiaries while trying to rein in escalating costs, the Office of Personnel Management advised in its annual call letter to FEHBP carriers.
OPM wants carriers to “reexamine” opportunities to reinforce or add to management techniques that help balance those dual goals, since rising drug prices and more prescription drug use in health care are driving up FEHBP premiums. According the agency, 25.5 percent of the FEHBP health care budget was spent on drugs in 2015. “We are particularly interested in proposals that optimize safe use and evidence-based formulary management of drugs for mental health conditions, substance use disorders, immunosuppression, diabetes, HIV, seizure disorders, and cancer,” stated the Jan. 11 letter, obtained by Government Executive.
FEHBP carriers have to submit their 2018 benefit and rate proposals to OPM by May 31. OPM expects to have benefit and rate negotiations for next year finished by mid-August “to ensure a timely open season.”
More / Source: OPM: FEHBP Carriers Should Focus on Rising Prescription Drug Use and Costs – Pay & Benefits – GovExec.com