Latest news with #Mercer
Canada News.Net
10 hours ago
- Business
- Canada News.Net
Weight-loss drug prices prompt rethink of US health benefits
NEW YORK CITY, New York: Rising spending on weight-loss and specialty drugs is prompting a majority of large U.S. employers to scale back health benefits in 2026, as budgets come under pressure, a new Mercer survey released on July 16 shows. Among companies with 500 or more employees, 51 percent said they plan to increase cost-sharing for workers in 2026 — such as by raising deductibles or out-of-pocket maximums — up from 45 percent who plan similar increases in 2025. Soaring costs of GLP-1 weight-loss drugs, such as Wegovy, are at the heart of employer concerns. According to Mercer, 77 percent of employers now rank Wegovy as a top cost concern. "More clients are saying ... 'I don't know how much longer we can sustain covering these medications,'" said Alysha Fluno, a pharmacy innovation leader at Mercer. While some companies initially offered coverage for GLP-1 drugs in hopes of lowering long-term health costs tied to obesity, surging prices are causing second thoughts. "Some employers facing big cost increases in 2026 may feel this coverage is out of reach," Fluno said. Competition from new drugs in the coming years may give pharmacy benefit managers (PBMs) more leverage to negotiate lower prices. The current GLP-1 drugs list costs over US$1,000 per month, though many insured patients pay less. The Mercer report says prescription drug costs jumped eight percent last year, and overall health benefit costs are expected to rise 5.8 percent in 2025. Employers are also rethinking their relationships with PBMs — middlemen between drugmakers and insurers — amid concerns over transparency and pricing practices. Thirty-four percent are considering switching PBMs, and 40 percent are exploring alternative drug pricing models. The scrutiny follows regulatory criticism of major PBMs like CVS Caremark, Express Scripts, and Optum Rx for steering patients toward high-cost drugs — a claim the industry denies. This week, CalPERS, one of the nation's largest public healthcare purchasers, announced it would switch PBMs in 2026, citing the need for better oversight and transparency.
Irish Examiner
2 days ago
- Science
- Irish Examiner
Author interview: Finding new life among the hidden worlds at the ‘Ends of the Earth'
During the late 1960s, John H Mercer set out on an epic adventure: To map the sequence of rock formations in Reedy Glacier, in West Antarctica. On his field trip, the British glaciologist noticed a strange phenomenon: There were layers of sediments typical of those found at the bottom of lakes. It led Mercer to come up with a new working hypothesis: Approximately 120,000 years ago, the high-altitude site where he was carrying out his research held lakes instead of glaciers. Mercer's logic implied that during warm periods, the West Antarctic ice sheet melts completely, only to re-form during cold periods. Mercer explored this idea further in a scientific paper he published in 1968, but nobody paid attention. A decade later, Mercer published another paper in the science journal Nature. 'If the global consumption of fossil fuels continues to grow… atmospheric CO2 content will double in about 50 years,' he wrote. 'Climatic models suggest that the resultant greenhouse-warming effect will be greatly magnified in high latitudes… and could start rapid deglaciation of West Antarctica, leading to a 5m rise in sea level.' The scientific community denounced Mercer as an attention-seeking alarmist. From 1978, until his death nine years later, the British scientist struggled to get grants to support his research. Mercer was a visionary, but his ambitious ideas did not fit with a commonly held consensus among climate scientists. Up until the beginning of the millennium, most of them believed that Antarctica — the Earth's fifth largest but least populated continent — was a stable bulwark against changes in ice. Today, American palaeontologist and evolutionary biologist Neil Shubin describes Mercer as 'an amazing field geologist'. 'Mercer said the world is at a tipping point, and if we keep increasing global temperatures, we are setting ourselves up for dramatic changes with the ice in West Antarctica, and by extension, global sea levels,' the 64-year-old scientist explains from his office at the University of Chicago — where he is currently a professor of Organismal Biology and Anatomy. 'Mercer's peers thought Antarctica was very stable. Unfortunately, though, as research continued over time, it turns out Mercer was probably right. 'Three decades ago in Antarctica, we were losing, say, 80 gigatons of ice per year. But now we are losing about 280 gigatons per year.' Moving ice shapes the world Shubin's book examines how moving ice shapes the world. He notes, for instance, that polar regions encompass 8% of the total surface of the Earth and that almost 70% of all the planet's fresh water is frozen in ice. Expeditions to the polar regions are now a matter of urgency. 'The Arctic is heating five to seven times faster than the rest of the globe, and there are now open spaces of water where ice was previously,' he says. 'In Antarctica, melting ice is less visible to the naked eye.' In fact, Antarctica is witnessing the slowest temperature rise on Earth, but for complex reasons. As the oceans warm, Antarctica's surface temperatures stay relatively cool. This disparity in temperature amplifies a wind current, which swirls around Antarctica and carries 170 times more water than all of the Earth's rivers combined. With that water comes heat. The change in the circumpolar current brings more warm seawater to the coast of Antarctica, causing the coastal glaciers to melt from below, where the ice meets the ocean. The glaciers then fragment and collapse into the sea. Shrinking glaciers, of course, mean rising seas. The British Antarctic Survey along with the US Antarctic Program, have collaborated on research to help us understand those glaciers in West Antarctica. 'Specifically, with robots looking underneath the ice, and with satellite images, and with studies of the ice, both in the air and in the water. They confirm that in West Antarctica there is a lot to worry about,' says Shubin. Drilling in ice in Antarctica has also shed light on another idea geographers and scientists have been speculating about since the mid-19th century: Underneath the ice of the region sit entire worlds sealed off from Earth's surface. We now have a detailed understanding of these hidden worlds, via decades of research that has been carried out by scientists from numerous countries at Lake Vostok. The largest subglacial lake in Antarctica has a surface area of more than 14,000sq km and a depth of more than 800m. Glaciologists have reasons to believe that Lake Vostok may have been separated from the world above for over 15m years, Shubin explains. During the late 1990s, a group of Russian, French, and American scientists set off on an international science trip to drill a core to get down to Lake Vostok. On that occasion, though, the team stopped drilling about 400ft above where they expected liquid water. But even at that depth, the ice samples they recovered displayed special properties. John Priscu, from Montana State University, later received one of those samples. Putting them under high-powered microscopes, Priscu surmised that there were about 100,000 microbes per millilitre of ice. Those findings inspired Priscu to hunt for more life elsewhere in Antarctica. For logistical reasons Priscu decided to move his research to Lake Whillans: A subglacial lake in Antarctica that sits 480km from the South Pole. Using a drill sterilised by UV light and hydrogen peroxide, Priscu and his team sampled the waters of Lake Whillans, which were then examined back in the lab. DNA sequencing revealed nearly 4,000 species living in Lake Whillans under the ice. The subglacial microbes were diverse, thriving, and part of a complex web of ecological interactions. 'These are living creatures that have been separated from the sun, for millennia, if not millions of years,' Shubin explains. And these creatures exchange information with other lakes underneath. 'We don't know much about these worlds and how these creatures survive. There is probably a wide diversity of microbial lifeforms that we can barely imagine under there.' If life can thrive and survive under the ice in Antarctica, it might also be possible it can thrive in extraterrestrial environments too. Shubin mentions Europa, the fourth largest of Jupiter's 95 moons, and, Saturn's moon, Enceladus: A small icy world that has geyser-like jets spewing water vapour and ice particles into space. 'Both of these places have ice on the exterior and fresh water underneath the ice, which make them two promising candidates for places in our solar system to expect microbial life,' Shubin explains. 'Understanding life under the ice in Antarctica gives us a model to think possible alien life outside our own planets.' Closer to home, however, there are more urgent matters to be concerned about, Shubin warns. Global warming means our planet is undoubtedly entering an era of uncertainty. Shubin cites one scientific study which estimates that sea levels could rise as much as 10ft globally in the next century, if the planet warms more than three degrees Fahrenheit. 'Geological engineering is one option we might have to peruse if we cannot, as [a global community] get carbon emissions under control,' says Shubin. 'But the reality is that the choices we make for the future will make a difference. Not just for us. But for future generations. 'We need to keep global conversations alive and international science collaboration going,' Shubin concludes. 'Antarctica and the Arctic are warming, and polar treaties are straining as fast as ice melts and species disappear. 'Our fragile window for understanding the cosmos, the planet, and ourselves is closing, so we need to act now.' Read More Book review: Revealing the dangers and thrill of polar exploration leaves a deadly chill
USA Today
2 days ago
- Sport
- USA Today
2025-26 Tennessee men's basketball nonconference schedule
The 2025-26 men's basketball campaign will mark the 11th season for Tennessee under head coach Rick Barnes. He has compiled a 232–109 (111–66 SEC) record since 2015. Barnes guided the Vols to back-to-back NCAA Tournament Elite Eight appearances from 2024-25. Tennessee will open its 2025-26 basketball season on Nov. 3 versus Mercer at Food City Center. "Each year, we work to create a nonconference schedule that best sets our team up for success and prepares us for SEC competition,' Barnes said. 'We feel we have once again done just that. In addition to four tough games we'll get on planes for, we look forward to playing nine here in the Volunteer state, including eight on our home court, in front of our incredible fans.' Tennessee released its 2025-26 nonconference basketball schedule and is listed below. 2025-26 Tennessee men's basketball nonconference schedule Nov. 3 – Mercer Nov. 9 – Northern Kentucky Nov. 12 – North Florida Nov. 17 – Rice Nov. 20 – Tennessee State Nov. 24 – vs. Rutgers (Players Era Men's Championship – Las Vegas, Nevada) Nov. 25 – vs. Houston (Players Era Men's Championship – Las Vegas, Nevada) Nov. 26-27 – vs. TBD (Players Era Men's Championship – Las Vegas, Nevada) Dec. 2 – at Syracuse (ACC/SEC Challenge) Dec. 6 – vs. Illinois (Nashville, Tennessee) Dec. 16 – Louisville Dec. 21 – Gardner-Webb Dec. 30 – South Carolina State Follow Vols Wire on Facebook and X (formerly Twitter).
USA Today
2 days ago
- Business
- USA Today
Health insurance costs are about to spike again: What to expect in 2026.
Consumers who buy health insurance through the Affordable Care Act marketplace will likely face double-digit rate hikes next year. Insurers plan a median premium increase of 15% for 2026 plans, which would be the largest ACA insurance price hike since 2018, according to a Peterson-KFF Health System Tracker analysis published July 18. And many working-age consumers who get their health insurance through the workplace won't be spared, either. Benefits consultant Mercer said more than half of big employers expect to shift a larger share of insurance costs to employees and their families next year by raising deductibles, copays or out-of-pocket requirements. KFF said the ACA insurers cited factors such as medical cost inflation, the expiration of tax credits instituted during former President Joe Biden's administration that made plans cheaper, and tariffs on prescription drugs and medical device imports. Still unknown is how President Donald Trump's and Congressional Republicans' tax cut and spending law might impact next year's ACA health insurance rates, experts said. Trump's tax cut law has "created a lot of uncertainty," said Matt McGough, a policy analyst for KFF's program on the ACA. "Insurers weren't sure how to handle it." Millions of nondisabled adults are projected to lose Medicaid coverage due to the law's work-or-volunteer requirement, but the law also will impact some who buy ACA plans. Trump's law and a federal rule will end a special sign-up period for people who earned less than 150% of the federal poverty level − a group that had significant enrollment gains in recent years. The enrollment perk allowed low-income Americans to sign up for coverage year-round, making it easier for families to sign up, McGough said. The law also ends automatic ACA enrollment renewals for consumers, who will be required to update income and other information annually. Trump administration officials have said the Biden administration's enrollment policies for Medicaid and the Affordable Care Act allowed fraud and abuse. In a July 17 news release, the Centers for Medicare & Medicaid Services said it discovered 2.8 million Americans were potentially enrolled in Medicaid or Children's Health Insurance Program plans in multiple states, or they were simultaneously enrolled in Medicaid/CHIP plans and subsidized ACA plans. The agency said it initiated steps to ensure people weren't simultaneously enrolled in multiple, taxpayer-subsidized insurance plans. In a statement, U.S. Health and Human Services Secretary Robert F. Kennedy, Jr. said the Trump administration "will no longer tolerate waste, fraud, and abuse at the expense of our most vulnerable citizens." Higher health costs, end of COVID-era tax credits Higher health care spending is the top factor driving health insurance premiums higher - accounting for roughly half of the expected insurance price hikes, McGough said. Another significant factor is Biden's COVID-19 pandemic-era tax credits, which made ACA plans cheaper for consumers and drove record high enrollment, will expire at the end of the year. The nonpartisan Congressional Budget Office estimated about 5 million could lose health insurance after the tax credits expire. KFF said the expiring tax credits will increase ACA consumers' out-of-pocket premium payments more than 75% on average. Healthier enrollees will likely choose to drop their coverage, leaving insurance plans with groups of sicker patients who require more health care, McGough said. KFF's review of 105 ACA insurers in 19 states and Washington D.C. found most are seeking rate hikes of 10% to 20% for coverage next year. Another 28 insurers will seek rate hikes of 28% or more. State and federal insurance regulators must sign off on proposed rate hikes before they are finalized this fall. Most working-age Americans get health insurance through their or a spouse's employer. These large employers will be more willing to pass along a larger share of health insurance costs to workers and their families next year, a July 16 report from benefits consultant Mercer found. Mercer said 51% of large employers say they are likely or very likely to shifts cost to workers through higher deductibles or out-of-pocket maximums. A year ago, 45% of employers were willing to make their workers absorb a higher share of the health bill. Employers health benefits costs are expected to rise 6% in 2025 and could rise even faster in 2026. To curb those cost increases, employers are adjusting insurance plan options for workers and their families, said Beth Umland, Mercer's director of research for health and benefits. Earlier this decade, employers were reluctant to shift significant health costs to workers due to the tight labor market. But with health costs rising faster than inflation, more companies are willing to do so, Umland said. Companies also are increasingly offering plans that encourage workers to get care from narrower networks of doctors and hospitals who have negotiated discounts with the insurance plan, Umland said.
India Today
2 days ago
- Business
- India Today
US employers to cut health benefits amid soaring weight-loss drug costs: Survey
More than half of large US employers are planning to scale back healthcare benefits in 2026, as rising costs — driven largely by expensive weight-loss and speciality drugs — strain corporate budgets, according to a new survey by consulting firm survey, released on Wednesday, found that 51 per cent of companies with 500 or more employees intend to increase cost-sharing, such as higher deductibles and out-of-pocket maximums --- that's a notable jump from the 45 per cent of employers who said they would take similar measures for dramatic rise in popularity — and cost—of GLP-1 weight-loss drugs like Novo Nordisk's Wegovy has become a key pressure point, the consultancy said. "More clients are saying ... 'I don't know how much longer we can sustain covering these medications'," said Alysha Fluno, a pharmacy innovation leader at Mercer, in an some employers have covered GLP-1s hoping for long-term health savings, rising prices are forcing a rethink: "Some employers facing big cost increases in 2026 may feel this coverage is out of reach," Fluno Wegovy and Eli Lilly's Zepbound are listed at USD 1086 and USD 1059, respectively, but many patients pay less through their health to the survey, prescription drug costs jumped 8% last year. Mercer has forecast a 5.8 per cent rise in overall health benefit costs for 2025. Employers are also eyeing alternatives to traditional pharmacy benefit managers (PBMs), according to such as CVS Caremark, Cigna's Express Scripts, and UnitedHealthcare's Optum Rx act as middlemen between drug companies and consumers. They negotiate volume discounts and fees with drug manufacturers on behalf of employers and health plans, create lists of medications that are covered by insurance, and reimburse pharmacies for say they take an undisclosed cut of the discounts they receive rather than sharing them with patients and survey found 40 per cent of employers are considering alternative contracting models for their prescription medicine benefits, such as those that price drugs based on their cost to the pharmacy.- EndsWith inputs from Reuters
