Survey finds workers unaware of prescription savings programs

FORT WALTON BEACH, Fla. – Nearly all employers are open to adding prescription savings tools to their employee benefits as rising drug costs continue to strain workers’ finances, according to new research released Wednesday by Buzz Health.

The healthcare technology company found that 94% of HR, finance and benefits decision-makers said they would be very or extremely likely to adopt a tool that helps educate employees about prescription drug affordability. Yet a companion survey found that 67% of full-time employees said their employer has never informed them about programs that could reduce their prescription drug costs.

The surveys also found that 43% of employees made at least one health or financial sacrifice over the past year because a prescription was too expensive. Reported actions included delaying prescription refills, skipping medications and cutting back on groceries. Employees paying $35 or more out of pocket for a prescription were significantly more likely to abandon it at the pharmacy counter.

Among employers surveyed, 27% acknowledged that their health plans do not adequately protect employees from high prescription costs, while 47% said they have taken no steps to address prescription affordability. In addition, 42% of benefits decision-makers said prescription affordability has contributed to employee turnover.

“Picture an employee at the pharmacy counter choosing between a needed medication and their groceries, while a savings program that could have helped sits undiscovered in their benefits portal,” said Joseph Kleiman, president of Buzz Health. “That moment plays out millions of times a year, and it is entirely preventable.”

The research also found that employers were more likely to adopt prescription savings tools when given detailed compliance documentation covering HIPAA, ERISA, the No Surprises Act, and SOC 2 certification.

The findings are based on surveys of 1,007 full-time U.S. employees, 250 healthcare benefits decision-makers, and a separate pulse survey of 32 employers and 11 benefits brokers.