At Extreme Investor Network, we understand the importance of personal finance and making informed decisions about healthcare coverage. In today’s blog post, we delve into the complex world of employer-sponsored health insurance and the challenges employees face when seeking coverage for life-changing medications like Wegovy and Ozempic.
According to a recent report by consulting firm Gallagher, about 1 in 3 employees are looking for more resources to combat obesity. Weight-loss drugs like Wegovy and Ozempic, which are designed to suppress appetite, are becoming increasingly popular in the US. However, despite the rising rates of obesity and diabetes, these medications are not universally covered.
One of the main barriers to coverage is cost. Obesity drugs can be expensive, with some medications costing nearly $1,350 per month for a single patient. As a result, many insurance providers are hesitant to cover these drugs, leading to higher healthcare costs for both employers and employees.
Currently, fewer than half of companies cover expensive weight-loss drugs, and the percentage of employers considering adding coverage is relatively low. This lack of coverage can leave employees struggling to access the medications they need to manage their health effectively.
To improve access to weight-loss drugs, businesses may need to pay even more, adding to the already high healthcare costs projected for 2025. Employers and employees are expected to see significant increases in healthcare costs, making it crucial to understand coverage options and make informed decisions during open enrollment.
At Extreme Investor Network, we believe in empowering individuals to take control of their personal finances and make informed decisions about their health. Stay tuned for more tips and insights on navigating the complex world of personal finance and healthcare. Subscribe to our newsletter to receive the latest updates and exclusive content from our team of experts.