Alert / Employee Benefits
Lockton’s in-house pharmacy experts find savings for self-insured client

As the sixth-largest county in Colorado based on population, Larimer County, Colorado, has a responsibility to its residents to wisely spend every dollar it receives. With over 1,800 eligible employees, controlling benefits spend is a huge task.

Not long after becoming Larimer County’s broker in 2012, the Lockton account team looked at Larimer’s pharmacy contract, created with its previous broker. The team quickly negotiated better terms and added a clause allowing Lockton to audit the pharmacy benefit manager’s (PBM) performance against the negotiated terms. This was a big step in lowering pharmacy costs, and the audits would ultimately save Larimer County
hundreds of thousands of dollars.

Larimer County and the Lockton account team have since trusted the expertise of Lockton’s Pharmacy Benefits Practice
independent consultants to ensure the County gets the most out of its pharmacy contract. The partnership has improved program efficiency and affordability, and Lockton has recouped a total of $640,000 for Larimer County over the past five plan years.

Please click for the full Success Story.

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