Warwick, RI – To help self-funded clients manage risk on the rising costs of specialty pharmaceuticals, AmWINS Group Benefits, a leading wholesale distributor of employee benefits and professional services, recently announced a new product now available – AmWINS Specialty Pharmacy Protection™. By offering an insurance product specific to the Specialty Drug market, AmWINS can now help protect employers with self-insured health plans from financially devastating pharmacy claims.

“The recent and projected market growth fueled by first-in-class products poses an elevated financial threat to self-funded employers – and unlike other prescription drugs, there are currently no generic alternatives for specialty drugs,” said Samuel H. Fleet, president of AmWINS Group Benefits. “Our clients are looking for a solution and this is it.”

Specialty Pharmacy programs are one of the fastest growing trends among pharmaceuticals today. Some treat relatively common conditions, such as rheumatoid arthritis, Hepatitis C and multiple sclerosis, while others treat uncommon conditions, like pulmonary arterial hypertension and severe combined immune deficiency. Specialty drug prices can range from $5,000 and $300,000 per year, per employee and the number of specialty products is projected to rise dramatically to more than 400 products by 2020.

In response to this new healthcare reality, AmWINS Specialty Pharmacy Protection is preparing clients to manage their overall specialty pharmacy spending and benefits. Administered by IdealScripts, AmWINS’ progressive pharmacy benefit management company, the fully insured program not only provides coverage for pharmaceuticals, but also includes crucial ongoing care management. Other benefits of the innovative Specialty Pharmacy Protection program include:

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• Effective formulary and plan designs that cover the majority of disease states
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• Clinically appropriate access to high quality care for employees
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• Progressive Utilization Management maintains appropriate dosing measures, thereby reducing waste and preventing misuse
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• Competitive differentials in the marketplace for medication costs and therapy administration costs
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“AmWINS Specialty Pharmacy Protection is the first of its kind in the industry and the solution to meet the demands of the rapidly changing pharmaceutical industry,” said Fleet. “Specialty prescriptions may have a low incidence of claims, but can be financially devastating for a company. With Specialty Pharmacy Protection, companies can now be confident that their health plans are protected in the face of catastrophic claims.”

AmWINS Group Benefits’ Specialty Pharmacy Protection is now available for self-funded health insurance plans in 38 states. For more information on Specialty Pharmacy, visit groupbenefits.amwins.com.

About AmWINS Group Benefits
AmWINS Group Benefits is a leading wholesale broker of comprehensive group insurance programs and administrative services. Working with benefit brokers and consultants, AmWINS Group Benefits designs, distributes and administers customized health benefit products and services for retired and active populations in private and public organizations. Its parent company, AmWINS Group, Inc. is the second largest insurance wholesalers in the United States. AmWINS Group Benefits is headquartered in Warwick, RI. More information about AmWINS Group Benefits is available at groupbenefits.amwins.com.


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