As National CooperativeRx is member-owned and member-governed, our top priority and commitment is to our 260 member groups and their 375,000 covered lives. One of those member groups is Northeast Wisconsin Technical College (NWTC), who has experienced a significant decrease in drug spend since joining the Cooperative. We are pleased at their benefit plan’s success and are grateful they are sharing their story.
NWTC Success Story
NWTC joined National CooperativeRx in 2013, coming to us with an average drug spend per person of $1,175.32. In 2019, that number came out to be $685.64, representing a 41.7% reduction in average drug spend.
“We really began noticing a significant decrease in costs when we switched to a high-deductible health plan (HDHP),” says Valarie Wunderlich, Benefits and Compensation Director at NWTC and National CooperativeRx Board member.
After moving to a HDHP in 2016, NWTC’s net prescription drug spend fell from $2,290,804 to $1,219,759, resulting in an overall reduction in net prescription drug spend of 37.3% since becoming a Cooperative member.
As patients become more aware of lower-cost alternatives, the copay costs of NWTC’s plan have decreased since the HDHP was established in 2016. The average copay amount was $28.10 per prescription the first year, compared to the average copay amount of $23.92 per prescription in 2019. Even though prescription quantities went up, the total amount paid by patients is less than in 2016.
National CooperativeRx’s policy of issuing 100% of rebates back to members also played a big part in cost savings for NWTC. During their seven years of membership, we have issued NWTC over $2 million in rebate checks. Valarie explains, “In this complex pharmaceutical benefit industry, it’s comforting to know National CooperativeRx is completely transparent. The rebates, audits and regular updates give us peace of mind that our financial well-being is secure.”
Other Key Factors in Lowering Costs
- Leveraging CVS Caremark’s preventive drug list
- Offering a free onsite clinic
- Implementing coinsurance
- Being an early adaptor of the CVS Specialty Copay Card Program
- Implementing Voluntary Maintenance Choice
- Applying the Advanced Control Formulary
- Taking advantage of Cooperative clinical programs
If you are a Cooperative member and have any questions about your benefit plan or would like more information on any program discussed above, please contact your account manager.
About NWTC
NWTC is a nationally-ranked, two-year public college where students can begin their bachelor’s degrees and take courses in pursuit of technology careers. Founded in 1912, the College has enrolled students from more than 23 countries and serves 32,000 students per year. As a result of the high-quality tools NWTC provides its students, 94% of graduates have careers within six months of graduating, with 80% employed in their chosen field of study.
