NewAm Health Rx
Pharmaceutical benefit solutions specifically tailored for self-insured employer groups.
Introducing NewAm Health Rx: Pharmaceutical Benefits Evolved
NewAm Health Rx provides novel prescription drug programs to augment the more traditional health insurance plans usually provided by self-insured employee groups.
While most self-insured employee groups offer various degrees of health insurance to their employees, there is an unmet need for better coverage of prescription drugs.
NewAm Health Rx offers better approaches to prescription drug plans for employers, to help:
- Employees who fill prescriptions and take medications as prescribed by their health care providers heal more quickly, or manage chronic diseases better, and spend more productive time on the job.
- Employees who have better ways to help pay for medications for their dependents are able to spend more time focusing on their job.
Happier, healthier employees are more productive, higher performing employees. And companies with happier employees outperform their competitive set and tend to retain the suite of programs that produced successful results.
NewAm Health Rx offers two plan designs for employers:
- NewAm’s Low Cost Pharmaceutical Benefit Manager (NewAm LC Rx)
- NewAm’s Self-Insured Pharmaceutical Program (NewAm SI Rx)
Low-Cost Pharmaceutical Benefit Manager Program
We offer a fully transparent pharmacy benefit management solution, and use technology to put specific drug and competitive pharmacy pricing into the hands of prescribers and members, so each can make informed decisions.
There are no drug tiers, no limitations to the formulary, and no mysteries when it comes to rebates and coupons.
With over 67,000 pharmacies, employees will have easy access to all national chain pharmacies and most independents. The NewAm provided search tool will direct employees to the greatest prescription savings options located conveniently for the employee. NewAm Health Rx by mail service is also available for even greater access.
If you’re interested in an Rx program for an Individual or Family, click here.
Note: clicking this link will take you to our business partner, Drexi.
Self-insured Pharmaceutical Program
NewAm Health Rx’s innovative benefit model offers three plan levels for self-insured employee groups willing to accept some of the risk of the program.
With risk can come reward
Program fees are paid into an escrow-type account, from which a portion of the pharmaceutical spend is deducted.
This pharmacy benefit plan includes a low cost-share for members and suggested prescription fulfillment. Up to the per prescription price limit for a given program benefit tier ($30, $100 or $300), most prescription drugs are included – there are no formulary exclusions. And, for most prescriptions, patients have access to discounted pricing – oftentimes offering far deeper savings than other drug discount programs.
For medications exceeding the program caps, NewAm Health Rx offers some guidance with various other funding options, including:
- Pricing information comparing various local pharmacies is provided for all medications, including those priced higher than the plan cap; therefore, employees are paying a competitive price
- Traditional health insurance plans usually cover the approximately 50% of specialty and high cost medications which are dispensed or infused in a hospital or clinical environment
- A capital reserve, which may be funded by additional, incremental premium and/or by the employer can be set aside
- Manufacturer coupons, rebates, co-pay support options and various patient funding assistance programs funded by the pharmaceutical industry
- If an organization wishes to offer plan designs with higher caps, a new rate structure can be calculated
Offered only to groups, NewAm Health Rx offers pharmaceutical plans to employers. Our mission is to disrupt the traditional 20th Century health insurance and pharmacy benefit manager models!
The key focus of our efforts will be to provide plans which direct patients to cost effective and high quality solutions. While offering our members the right medical care at fair prices, all parties share in the efficiencies created. Request more info