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The Benefits of Using 340B Pricing for Employee Healthcare

Written by Jennifer Stuart—Employee Benefits Advisor

November 7, 2024 · 2 min minute read

Blog The Benefits of Using 340B Pricing for Employee Healthcare

Using 340B pricing, rural hospitals that provide healthcare to their employees can experience several benefits, particularly in managing costs and enhancing healthcare access within their communities.

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The Short and Sweet of it All

Cost Savings. The 340B drug pricing program allows eligible hospitals, including many rural facilities, to purchase outpatient drugs at significantly reduced prices. These lower prices mean more effective healthcare expense management.

Expanded Employee Access to Medications. Employees of hospitals participating in 340B drug pricing can access a broader range of essential medications at discounted rates, increasing the quality of their health benefits. 

Supporting Community Health. By improving employees’ health, you statistically can reduce absenteeism and increase employee productivity. When employees are healthy, they can provide even better service to those they treat, improving the community's health.

Administrative Efficiency. Utilizing 340B pricing for employee healthcare streamlines medication procurement and management processes within the hospital.

  

Considerations and Challenges:

Program Compliance. To qualify for discounted medication pricing, rural hospitals must undergo regular audits to ensure they meet program expectations.

Employee Engagement. It’s vital to provide education on the program’s scope and limitations so employees can make accurate and informed decisions about their healthcare options.  

 

By leveraging 340B pricing to serve your employees, you take a proactive approach to enhancing their healthcare affordability and accessibility. Employees can benefit from cost savings and broader access to medications, which, in turn, foster greater well-being in the community they serve.

 

However, achieving these benefits requires careful adherence to program guidelines, effective resource management, and robust communication with employees about available healthcare options. As rural healthcare continues to evolve, the strategic use of 340B pricing underscores its potential to positively impact both hospital operations and the overall health of local communities.

Have questions? Contact:

Jennifer Stuart

Jennifer Stuart

Employee Benefits Advisor

Call: (903) 716-5916
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Years of experience

19

I’ve spent my career immersed in the world of sales, service, and insurance, building a reputation as a change agent in the employee benefits space. My journey started in customer-facing roles, from managing retail stores to account management at Delta Dental, where I quickly realized the limitations of traditional approaches to insurance. Transitioning to brokerage, I honed my expertise in self-funded health plans and innovative cost-control strategies. Over the years, I’ve grown businesses from the ground up, managed multimillion-dollar books of business, and helped clients navigate the complexities of healthcare with a proactive, data-driven approach. Today, as a producer with Leavitt Group, I’m passionate about aligning employer and employee goals to create sustainable, cost-effective benefits programs that add measurable value.

What sets me apart is my commitment to disrupting the status quo. While many brokers focus solely on minimizing renewal increases, I dig deeper—seeking alignment of interests, educating employees, and exploring creative funding options that benefit everyone involved. I believe in putting people first, whether that means breaking down complex policy language for better understanding or ensuring that cost-saving measures don’t come at the employee’s expense. My approach is rooted in integrity, innovation, and a relentless drive to find better solutions for my clients. With professional designations like Group Benefits Advisor (GBA) and a soon-to-be Certified Pharmacy Benefits Specialist (CPBS), I stay on the cutting edge of industry advancements, always striving to make a meaningful impact.

When I’m not diving into data or strategizing with clients, I’m a proud wife and mom to two children. We love traveling to experience new cultures, attending Astros games, and cheering at local soccer and football matches. An avid reader and art enthusiast, I find joy in history, philosophy, and drawing. Whether enjoying a meal at Pappas Seafood or spending time with family, I embrace the vibrant community around me. With roots in Rogers, Arkansas, and a career spanning Little Rock to Austin, I bring a blend of hometown values and big-picture thinking to every endeavor.

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