THE HOT POTATO RISK TRANSFER METHOD
Hot Potato Health Plans are a growing market phenomenon. These plans have found a solution to high-cost specialty drugs through a common sense risk transfer method.
Here is a free resource to find Rx patient assistance programs for Hot Potato Health Plans: medicineassistancetool.org/
MAT is a search engine that contains information on approximately 900 public and private assistance programs that help those with financial need get access to their prescription medicines, including some free or nearly free options.
For our friends in deep South Texas, here is another source for Hot Potato Health Plans: Healthy Texas – Medication Assistance – Healthy Texas (wpengine.com)
“Working with Healthy Texas saved our families and taxpayers millions in health care costs, but the lives we have touched by promoting wellness is priceless!” -Rudy Madrid, Kleberg County Judge
Hot Potato Health Plans are a growing market phenomenon. These plans have found a solution to high-cost specialty drugs through a common sense risk transfer method. Resources like the one showcased in this blog entry helps to facilitate the strategy.
Passing a Hot Potato Rx Granade – Here’s the evolution of a Hot Potato Health Plan (We begin this story with “Once Upon A Time” : (1) Employer passes Rx Hot Potato risk to stop loss carrier, (2) Stop loss carrier tosses the Hot Potato risk back to employer in the form of a laser, (3) Stop Loss carrier continues to toss additional Hot Potato Risk to employer each renewal, (4) More plan members taking specialty drugs driving Rx costs to 40-50% of total plan spend, (5) Employer is running out of money. (6) Employer experiences a powerful epiphany spurring action (7) Employer tosses the Hot Potato risk to manufacturer patient assistance programs. We end this story with “And they lived happily ever after………………”
Related blog postings:
Specialty Drugs – What Can A Plan Sponsor Do?
Specialty Drugs Bankrupting Health Plans
We Don’t Cover Specialty Drugs (Wink Wink)
Employer Solves High Cost of Specialty Drugs
PBM Exposes Industry Secrets on Specialty Drugs
Three Risk Transfer Strategies No One Talks About
RiskManagers.us is a specialty company in the benefits market that, while not an insurance company, works directly with health entities, medical providers, and businesses to identify and develop cost effective benefits packages, emphasizing transparency and fairness in direct reimbursement compensation methods.
