Cost Containment Strategies
According to the Sanofi Canada Healthcare Survey 2012 "while plan sponsors may fear making changes to health benefits that could reduce their impact as an attraction and retention tool, survey results indicate a willingness on the part of employees to be part of cost-management strategies."
Cost containment strategies focus on changing the ways benefits are delivered and used without cutting back the coverage. Examples of cost containment strategies are:
- Drug Management Plans (such as implementing a mandatory generic plan or capping dispensing fees to encourage employees to make better purchasing choices)
- Central Dispensing Pharmacies (steering employees to purchase drugs from a CDP where drugs are bought in bulk and are typically much cheaper with lower dispensing fees than a regular pharmacy)
- Early Intervention for Disability and Prolonged Illness
- Disability Case Management
- Health and Wellness Initiatives often tied in with an Employee Assistance Program
These are just a few examples of ways in which we can deliver a sound benefit plan and ensure it is stable and health for years to come.