Most Americans support value-based care but prefer other terms, research finds

By Anastassia Gliadkovskaya - Most Americans support the idea of value-based care but don’t understand or resonate with the term, according to new research from United States of Care. USofCare is a self-described nonpartisan think tank focused on building a more equitable healthcare system. Its latest research relied on (PDF) virtual focus groups with a dozen participants, a national survey that reached 1,000 respondents and a “ReMesh” session, or an AI-driven feedback collection platform that engaged 100 participants more deeply. Read Full Article…

VBA Article Summary

1. Patient Desires and Concerns: People desire improvements in their care experience and believe the healthcare system is too fragmented. There is a perception that much time is wasted waiting, and there's a concern that those with money receive priority in care. Patients prefer a system where the provider sees them as a whole person and not just a collection of symptoms.

2. Survey Results on Value-Based Care: 64% of national survey respondents supported value-based care over fee-for-service, with even higher support (89%) among ReMesh participants. Despite the support for the concept, the term "value-based care" wasn't always resonant; many preferred terms like “quality-focused care” and “patient-first care.” There's a communication gap identified by USofCare co-founder, Natalie Davis, emphasizing the importance of bridging this gap for long-term success.

3. Challenges and Recommendations: Some survey respondents expressed skepticism about the practicality of value-based care, fearing increased costs, potential oversight of complex issues, and longer wait times. USofCare emphasizes the need to simplify the messaging around value-based care and to focus on improving the patient care experience. Reframing the concept as "patient-first care" might better convey its benefits and address concerns about perceived lower quality.

Employers’ Healthcare Costs Expected To Rise 8.5% in 2024

By Marissa Plescia - Employers' healthcare costs are anticipated to rise by 8.5% in 2024, according to Aon. The projected increase is nearly twice the 4.5% increase that employers saw from 2022 to 2023. Inflation is a major factor for the increase. U.S employers’ healthcare costs will reach more than $15,000 per employee in 2024. Read Full Article… 

VBA Article Summary

1. Significant Increase in Healthcare Costs: The Aon report highlighted a significant surge in healthcare costs for U.S. employers. Projected healthcare costs for 2024 are expected to rise almost twice as much as the 4.5% increase seen from 2022 to 2023. On average, employers' healthcare costs per employee were $11,224 in 2023, up from $10,736 in 2022.

2. Factors Driving the Rise: The increase in healthcare costs can be attributed to several factors. Inflation is the primary component, as outlined by Debbie Ashford, the North America chief actuary for health solutions at Aon. Contracts in place between providers and insurance companies have caused a delay in reflecting inflationary effects on healthcare prices. Furthermore, there has been an uptick in medical utilization, chronic conditions, mental health challenges, substance use disorders, and rising prescription drug prices since the pandemic.

3. Industry Variation & Employer Concerns: Total healthcare cost increases vary across industries, with professional services facing particular challenges, while the retail and wholesale sectors are less affected. Employers, wary of the current competitive labor market, are reluctant to shift more healthcare costs onto employees. As they aim to attract and retain workers, companies are subsidizing about 81% of health plan costs. To manage these rising expenses, employers are adopting strategies such as targeted interventions for high-cost claimants, utilization of navigation tools, promoting centers of excellence, and leveraging telemedicine as mentioned by Ashford.

As drug costs rise, employers would like to see reforms extend to commercial space: Business Group

By Paige Minemyer - The cost of pharmaceuticals is a key topic for policymakers on the Hill, and it should come as no surprise that it's also a major concern for employers across the country. The Business Group on Health released its annual survey of large employers this week and found that 91% are either concerned or very concerned about overall pharmacy cost trend. Read Full Article…

VBA Article Summary

1. Rising Pharmacy Costs and Concerns: The median spending on pharmacy services has been on an upward trend, with a growth from 21% in 2021 to 24% in 2022. A vast majority, 92%, are apprehensive about the high-cost drugs soon to be available. There's a notable increase in the specialty pharmacy's share in the health spend, with orphan drugs, intended for rare and intricate diseases, making up a significant portion of new market introductions.

2. Employer Concerns on Specific Therapies: The survey highlights that 79% of employers are uneasy about the costs tied to gene- and cell-based therapies. Moreover, 85% express similar concerns regarding GLP-1 therapies, especially used for weight loss and diabetes. The latter has gained significant attention recently due to its increasing demand, especially for purposes not originally intended or approved by the drug manufacturer (off-label use).

3. Transparency and Legislative Interventions: A major area of concern revolves around the clarity of rebates negotiated by pharmacy benefit managers (PBMs) and the intricate nature of the supply chain. A significant 73% of employers believe that PBMs should be more transparent about their compensation and pricing structures. On the legislative front, Ellen Kelsay, CEO of the Business Group, emphasizes the need for broader drug pricing reforms, cautioning against measures that focus solely on Medicare and might unintentionally impact the commercial market.

Views: How voluntary benefits help to expect the unexpected

By Drew Neslin - In life, we need to expect the unexpected. One could argue that this is an apt description for voluntary benefits, which were long viewed by brokers and employers as a labor-intensive afterthought. Read Full Article…

VBA Article Summary

1. Revaluation of Voluntary Benefits Post-COVID-19: Traditionally, voluntary benefits like accident insurance, critical illness coverage, etc., offered through payroll deductions were not regarded as vital. However, the pandemic revealed the strategic importance of these benefits, as they provide affordable protection against unexpected out-of-pocket expenses related to serious illnesses or accidents. As deductibles increased, individuals saw the value in such coverages, which not only protect income but also cover indirect costs like travel and childcare.

2. Evolving Landscape of Voluntary Benefits: The changing health landscape, characterized by an aging and less healthy U.S. population, means that there's an increasing need for coverages like hospital indemnity, critical illness, and accident insurance. The procedures and systems for these benefits have also evolved, becoming more user-friendly with the introduction of online claims, quicker payment processes, and more inclusive terms. Employers are also recognizing the value of these benefits in conjunction with other health savings tools to provide employees with comprehensive coverage.

3. Voluntary Benefits as a Competitive Advantage for Employers: In the face of challenges like the Great Resignation and an intensifying competition for talent, voluntary benefits are emerging as a powerful recruitment and retention tool. Offering a broader suite of benefits, often at a nominal cost to the employer, shows employees and potential hires that the company is invested in their overall wellbeing, not just their paycheck. As voluntary benefits have become group products and evolved over time, they have become more affordable, providing employers a cost-effective method to enhance their benefits package.

CMS Releases 2024 Projected Medicare Part D Premium and Bid Information

By CMS.gov - The Centers for Medicare & Medicaid Services (CMS) announced that the average total monthly premium for Medicare Part D coverage is projected to be approximately $55.50 in 2024. This expected amount is a decrease of 1.8% from $56.49 in 2023. Stable premiums for Medicare prescription drug coverage in 2024 are supported by improvements to the Part D program in the Inflation Reduction Act that allow people with Medicare to benefit from reduced costs. Read Full Article…

VBA Article Summary

1. Part D Premium Trends and Analysis: The Centers for Medicare & Medicaid Services (CMS) has announced the release of the projected average total monthly Part D premium. This figure is based on plan bids submitted to CMS and is intended to guide individuals on Part D premium trends as they approach the Medicare Open Enrollment period. The Medicare Part D program, assisting in the cost of both generic and brand-name prescription drugs, has witnessed enrollment from over 51 million beneficiaries, underscoring its importance and popularity. CMS remains diligent in its analysis and continues to seek stakeholder insights for potential enhancements, especially in terms of cost reduction.

2. Important Dates for Medicare Open Enrollment: Medicare beneficiaries should mark their calendars for the upcoming Medicare Open Enrollment period, set to take place between October 15 and December 7, 2023. This enrollment period allows individuals to select their preferred plan options for the upcoming benefit year, starting on January 1, 2024. Additionally, CMS has plans to release comprehensive premium and cost-sharing information for the 2024 Medicare Advantage and Part D plans in September 2023.

3. Additional Resources and Information: For stakeholders, especially Part D plan sponsors, CMS is releasing extra data such as the Part D national average monthly bid amount. This data aims to aid plan sponsors in the finalization of their premiums while preparing for the upcoming enrollment period. For an in-depth look at figures, including the Part D regional low-income premium subsidy amounts, the de minimis amount, and the Medicare Advantage regional rates, individuals and stakeholders can access detailed information through the provided CMS link. Furthermore, an accompanying Fact Sheet offers extended details on the same.

US labor shortage to persist through 2026, says report

By National World News Desk - Transamerica, a provider of investment, retirement and life insurance solutions, released the results of its report “PreScience 2026: Dynamics of the American Workforce.” Addresses ongoing US labor shortages in 2026, response to the informal economy to attract talent; and the importance of flexibility in workplace culture and benefits. Read Full Article…

VBA Article Summary

1. Persistent Labor Shortage Despite Growing Immigrant Population: The Transamerica expert panel forecasts that the US will face continued labor shortages even with a projected increase of 50 million in the immigrant population by 2026. This underlines the need for employers to evolve, focusing not just on recruitment but on building workplaces that prioritize respect, competitive edge, flexibility, and inclusivity. Phil Ackman, the president of Workplace Solutions at Transamerica, envisages this as the "future of work" from 2026 onwards.

2. Enhanced Benefits for Contract Workers: A significant majority, 83% of the panelists, concur that by the end of 2026, around 10% of employers in the informal sector will introduce voluntary payroll deductions for benefits like IRAs, individual 401(k)s, and HSAs for their contract workers. Wendy Daniels, from Transamerica's Workplace Solutions, highlights this as evidence that employers are becoming increasingly aware of the importance of offering attractive benefits packages to ensure a robust and loyal workforce.

3. The Imperative of Flexibility and Enhanced Benefits: Employee engagement is directly correlated with the success of an organization. With this in mind, the report underscores the importance of flexibility in workplace culture and benefits. For employers who can't offer work-from-home options, the expert panel advises enhancing benefits packages and introducing flexible rewards programs as a strategy to attract and keep top talent.

Incredible Growth of Benefits Enrollment and Management Solutions Market 2023 by Share, Size, Growth, Segments, Revenue and Top Manufacturers Analysis - ADP, LLC, Paychex, Inc., Benefitfocus, Inc., Zenefits

By WMR - A new Report by Worldwide Market Reports, titled "Benefits Enrollment and Management Solutions Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," offers a comprehensive analysis of the industry, which comprises insights on the Benefits Enrollment and Management Solutions market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market. Read Full Article…

VBA Article Summary

1. Comprehensive Market Analysis: The report provides a detailed analysis of the Benefits Enrollment and Management Solutions market, spotlighting its growth, drivers, and trends. Significant growth factors include increased product demand, technological advancements, and an expanding customer base. The study spans from historical data, present evaluations, to forecasts up to 2030. It includes visual representations, such as tables, charts, and figures, to better understand market dynamics. There is an emphasis on competitive aspects, key players, and their respective strategies, as well as market size, segmentation, and regional distribution.

2. Diverse Product and Application Segmentation: Different types of benefits enrollment solutions are highlighted, including online, mobile, cloud-based, integrated HR management, and self-service enrollment.

   The market caters to a variety of sectors, including large enterprises, SMEs, government bodies, non-profits, and educational institutions, showing its extensive reach and versatility.

3. Strategic Insights for Stakeholders: Porter's five forces analysis gives stakeholders a better understanding of the market's competitive dynamics. The report aids in identifying growth opportunities, understanding the roles of key players, and evaluating current market trends. Stakeholders can gain knowledge on market revenue contributions by region, and the in-depth competitor analysis provides insights into the top market contenders.

FDA Approves First Oral Treatment for Postpartum Depression

By US Food & Drug Administration - The U.S. Food and Drug Administration approved Zurzuvae (zuranolone), the first oral medication indicated to treat postpartum depression (PPD) in adults. PPD is a major depressive episode that typically occurs after childbirth but can also begin during the later stages of pregnancy. Until now, treatment for PPD was only available as an IV injection given by a health care provider in certain health care facilities. Read Full Article… 

VBA Article Summary

1. Overview and Severity of Postpartum Depression (PPD): PPD is a serious condition where women may experience intense feelings of sadness, guilt, and worthlessness post-childbirth. In some severe instances, these feelings can escalate to thoughts of self-harm or even harming their newborn. The condition has the potential to disrupt the crucial maternal-infant bond, potentially affecting the child's physical and emotional development. According to Tiffany R. Farchione, M.D., from the FDA, the introduction of an oral medication like Zurzuvae offers a beneficial treatment option for women grappling with such severe emotional challenges.

2. Clinical Efficacy of Zurzuvae: The effectiveness of Zurzuvae as a treatment for PPD was demonstrated through two rigorous studies involving randomization, double-blinding, and placebo control. Both studies centered on women diagnosed with PPD based on the Diagnostic and Statistical Manual of Mental Disorders criteria, emphasizing the onset of symptoms either in the last trimester or within a month post-delivery. These studies employed Zurzuvae or placebo treatments for a 14-day period. The primary evaluation criterion was the change in depressive symptoms, gauged using the Hamilton depression rating scale (HAMD-17) at day 15. Results highlighted that Zurzuvae-treated patients displayed a more significant reduction in depressive symptoms compared to the placebo group, with this effect persisting even four weeks post-treatment.

3. Safety and Administration of Zurzuvae: While Zurzuvae showcases promise, the labeling warns against potential hazards, specifically regarding impaired driving abilities. It's advised that patients refrain from driving or managing heavy machinery for a minimum of 12 hours post-dosage. Common side effects associated with Zurzuvae intake include drowsiness, dizziness, diarrhea, fatigue, the common cold, and urinary tract infections. Notably, Zurzuvae usage can potentially lead to suicidal ideation and acts, and can also be detrimental to a fetus, mandating the use of effective contraception during and a week post-treatment. The recommended daily dosage of Zurzuvae stands at 50mg, to be consumed once daily for two weeks, preferably during the evening after a meal rich in fats.