Pet Insurance: Coverage for Four-Legged Family Members

Many studies have shown the positive benefits of having pets. Your employees would likely agree. If they’re like most Americans, 39 percent have at least one dog and 33 percent have at least one cat. And many Americans consider their pets as family members. Love isn’t free, though. The Ontario Veterinary Medical Association has estimated…

How Pharmacy Benefit Managers Control Your Drug Costs

Pharmacy benefit managers, or PBMs, have nine basic tools to control the cost of prescription drugs: 1.   Pharmacy payments. PBMs use their clout to negotiate volume discounts with certain pharmacies, and then steer plan members to these pharmacies. 2.   Generic substitutions. Generic drugs usually cost much less than their branded equivalents. PBMs use…

Critical Illness Fills a Benefits Gap

Sales of critical illness insurance grew 90 percent (in premiums) between 2011 and 2012. Yes, 90 percent. Perhaps it’s time to consider adding critical illness insurance to your benefits portfolio. Critical illness plans have only been available in the U.S. since the mid-1990s. They were rather slow to take off at first, but the growth…