Employee Benefit Surveys

CVS Caremark Conducts a Study with Employee Benefit News

CVS Caremark, the pharmacy benefit manager (PBM) arm of CVS Health, has released a new study conducted in partnership with Employee Benefit News that examines the evolving role of PBMs in managing corporate pharmacy benefits. The survey of HR decision-makers and executive leaders reveals a landscape where employers are deeply anxious about escalating drug prices, with an overwhelming 91% expressing concern over medication costs for their workforce. This data underscores a pivotal shift in employer expectations, as 88% of respondents now view their PBM as uniquely positioned to wield its purchasing power and market expertise to combat these financial pressures.

As part of this research, Employee Benefit News and CVS Caremark identified three primary avenues where employers are seeking relief — implementing sustainable strategies for costly GLP-1 weight management drugs, accelerating the adoption of more affordable biosimilar alternatives, and leveraging digital technology to both personalize the member experience and streamline administrative processes.

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