Employers Have Shifted Pharmacy Benefits Advisors

Three out of four U.S. employers changed or plan to change their pharmacy benefits advisor.

Updated on Oct. 12, 2026 in Healthcare

Employers Have Shifted Pharmacy Benefits Advisors

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Data reveals that 75% of U.S. employers have either switched their pharmacy benefits advisor in the past year or intend to do so within the next 12 months. This widespread transition follows reports of rising drug costs and evolving federal disclosure requirements.

Why it matters

Rising costs and a lack of proactive guidance have driven employers to seek new partnerships to manage pharmaceutical spending. Many organizations are also struggling to balance financial pressures with the rising demand for weight-loss medications.

A survey of 601 employers found that 31% cited compensation concerns and 30% noted high commissions as primary drivers for switching advisors. Spending on GLP-1 medications surged to $71.7 billion in 2023, compared to $13.7 billion in 2018.

The players

RxBenefits

RxBenefits is a pharmacy benefits optimizer based in Birmingham, Alabama, that provides services to help employers manage drug costs.

The details

Employers are increasingly concerned about transparency, with 29% citing a lack of demonstrated savings as a reason for seeking new representation. Companies are also implementing tighter controls on GLP-1 weight-loss medications, with 87% of surveyed employers currently covering these drugs.

2018: GLP-1 spending reached $13.7 billion.
2023: GLP-1 spending reached $71.7 billion.
June 23 to July 21, 2026: The survey was conducted.

Market Landscape

This shift highlights the intensifying pressure on companies to optimize pharmacy benefits amid rising healthcare costs. It reflects a broader industry movement where employers are moving away from traditional models toward more transparent and clinically focused oversight.

Employees may see changes in their prescription drug coverage or the implementation of stricter authorization requirements for weight-loss medications. These shifts are designed to manage rising corporate costs while adhering to new federal disclosure regulations.

The takeaway

Businesses are prioritizing transparency and clinical performance as drug expenses consume larger portions of employee benefits budgets. Executives should focus on seeking advisors who provide proactive guidance and clear evidence of cost savings.