CLEARly Beneficial Podcast · 2026-03-24 · 43 min
How PBMs, Rebates, and Drug Pricing Are Draining Your Benefits Budget Pharmacy costs have ballooned from 12% of the healthcare dollar in 2000 to 30 - 50% today - and most employers have no idea why or what to do about it. Joey Dizenhouse, CEO of SlateRx and a 25-year actuary and benefits veteran, pulls back the curtain on the systems, incentives, and hidden money flows that make pharmacy one of the most complex - and costly - benefits to manage. In this episode, Joey and Vincent dig into the five levers every plan sponsor needs to understand: unit cost, utilization, mix, volatility, and engagement. From the GLP-1 tidal wave and next-generation weight loss drugs to the 19 different forms of “rebate” money that may never reach your plan, Joey explains why sound-bite solutions fall short and what it actually takes to build a smarter pharmacy program. Joey also tackles the uncomfortable truth about advisor and PBM conflicts of interest - and why asking the right questions may be the single most important thing a plan sponsor can do to protect their fiduciary standing and their people.
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