Guest post by Dave Roberts, Content and Social Media Manager at RxSpark, our partners on TrueConnectRx
A healthy, happy workforce is a powerful asset for any successful company. Yet, many Americans are still struggling with financial, emotional and health-related pressures which have been exacerbated over the last couple of years.
Though it is not just employees who may have been feeling the pinch recently.
Many employers have been forced to make difficult decisions to keep their business afloat from reducing hours, furloughing staff or cutting benefits. These tough choices inevitably have an impact on workers, creating additional strain on household and healthcare budgets, and leaving many looking for ways to reduce their outgoings and save money.
The power of a healthy, motivated workforce
Promoting good health among a workforce can have numerous benefits for an organization.
- Improved employee engagement – a good relationship and communication with employees is key to driving a company forward and developing loyalty within a team, and this is easier to achieve when workers feel their employers look out for their interests and wellbeing.
- Better job satisfaction and morale – job satisfaction and morale are crucial cornerstones when developing a powerful and driven workforce committed to pushing a company forward.
- Increased productivity and better performance – secure workers and in good health will be more focused and energized to perform at a high level.
- Lower rates of employee absenteeism – put simply, a healthy and happy employee is likely to require less time off due to stress or illness.
- Higher employee retention rates – organizations that explore ways to help support staff’s wellbeing and reduce their health care bills will incentivize staff to stay with the company and benefit from better rates of employee retention.
There is no doubt, a healthier workforce can be a tremendous asset to a company, and employers that take steps to help promote and support the health of their employees will be rewarded for investing in their people.
But how can this be achieved? Fortunately, there are many ways to develop and support employees in this way. This may include cultivating a healthy work environment, encouraging a healthy work-life balance or even subsidizing activities that promote good health, such as fitness classes or cycling to work schemes.
It may also include offering support and help with health care costs when they arise.
While many people in the U.S. have health insurance, often provided by their employers, the cost of care can still be high for the individual, even with good cover. However, there are ways to help employees reduce the cost of health care and in particular, their prescription costs…
So why are prescription prices a problem?
Prescription drugs are used to treat a huge range of health conditions and are among the most used treatment options. Indeed, nearly 7 out of 10 visits to the physician’s office involve drug therapy, and nearly half (48.6%) of all Americans take at least one prescription drug, with many picking up more than one prescription at the pharmacy, according to figures from the Centers for Disease Control and Prevention (CDC).
Despite this, many people struggle to afford their prescriptions.
A study by the Kaiser Family Foundation found that 24% of people reported difficulty paying for their prescriptions. Difficulty paying for meds can lead to poor adherence to treatment plans, with worse health outcomes for patients as they miss doses or even forgo collecting prescriptions entirely to save money.
How can a prescription savings program help your employees?
Prescription prices are different between pharmacies!
Many people do not realize this, and often pay more for their meds than they need to, when a simple walk across the street to a different pharmacy could result in significant savings on their medication.
Even if your employees have good health care coverage, they may still be able to reduce their prescription costs using a prescription savings program. In some cases, medication is not included in an insurer’s formulary (list of included medications). In this case, even workers with a fantastic health care package may end up paying significant sums for much-needed medication.
And even when medication is covered, most policies will have a co-pay and, in some cases, there will be a high deductible to reach. It may well be that paying the cash price using a prescription savings program means lower out-of-pocket expenses for employees, even if their meds are covered by insurance.
Changing the prescription game
Thankfully, there are prescription programs that employees can tap into. Employers can even provide them for their employees at no cost.
Employees can keep their healthcare costs down and access discounted prescriptions at 62,000+ pharmacies nationwide and could save up to 80% on the cost of their medications.
Some additional benefits of programs like this include:
- Earn Reward Points and redeem these for gift cards
- Save up to 80% (avg. 54%) on prescription medications
- Compare the cost of prescriptions at local pharmacies
- Order medication online through our trusted online pharmacy partner
- Set and receive reminders every time a refill is due
- Create a customized profile to manage prescriptions and view medication history
That’s why we offer TrueConnectRx
TrueConnectRx is your trusted discounted prescription program. With TrueConnectRx, employees can simply enter the name of their medication, along with their location and they’ll get a list of prices at pharmacies in their zip code, with the lowest price at the top.
Furthermore, TrueConnectRx will also automatically show the price for the cheapest generic version available (of course if you want to check the brand-name price, simply select that from the dropdown list to compare).
All that is left to do is choose the best price and take the voucher or their prescription card into their chosen pharmacy.
TrueConnectRx can help your employees find the lowest prices for their prescriptions and manage their medications. Offering this free program and explaining the benefits for employees could help your workforce save on their medications and promote better adherence to treatment plans.
Share TrueConnectRx with your employees today. If you would like to offer this benefit to your team, visit trueconnectloan.com/fwp to schedule a call.