New CVS Caremark-EBN Survey Reveals Employers’ Top Priorities for Managing Pharmacy Benefits

As pharmacy costs continue to rise and new therapies reshape the health care landscape, employers are looking for partners that can help them balance affordability, access and innovation. A new survey from CVS Caremark and Employee Benefit News (EBN) offers insight into how benefits leaders are approaching these challenges and where they see the greatest opportunities to improve pharmacy benefits.

The State of Pharmacy Management survey, conducted among 171 HR decision-makers and executive leaders responsible for benefits programs, found that employers remain highly focused on controlling medication costs while ensuring employees have access to quality care. At the same time, emerging priorities such as biosimilars, GLP-1 medications and digital innovation are reshaping pharmacy benefit strategies.

Affordability Remains the Biggest Concern

The survey revealed that prescription drug costs continue to be one of employers’ most pressing challenges. Ninety-one percent of employers said they are concerned about high medication costs for employees, yet only 30% believe they have significant influence over pharmacy spending. By comparison, nearly three-quarters said they have significant influence over the overall cost of maintaining a competitive benefits package.  

These findings underscore why employers increasingly rely on PBMs to help manage pharmacy costs. In fact, 88% of employers said PBMs are especially well-positioned to reduce costs for their businesses, while many also cited transparency and access to affordable medications as key priorities.  

“The value CVS Caremark delivers starts with listening closely to employers and understanding what matters most to them: more visibility, more predictability and more flexibility as they manage pharmacy benefits in a rapidly changing market,” said Ed DeVaney, president of CVS Caremark.

Biosimilars Offer an Opportunity to Lower Costs

As specialty medications account for a growing share of pharmacy spending, employers are increasingly turning their attention to biosimilars as a strategy to improve affordability as a strategy to improve affordability while maintaining access to FDA-approved treatment options. The survey found that 49% of employers currently encourage biosimilar substitution, while another 40% are actively considering or exploring the approach.  

At the same time, awareness remains a challenge. Only 12% of employers reported educating employees about the potential cost savings associated with biosimilars. The findings suggest a significant opportunity to help members better understand FDA-approved biosimilars, including their potential role in supporting more affordable access.  

CVS Caremark has advanced biosimilar adoption through formulary strategies designed to expand access to lower-cost alternatives. Its biosimilar-focused Humira® strategy has helped support savings for clients and members while maintaining access to FDA-approved treatment options. More recently, CVS Caremark updated its formulary approach to prefer lower-cost biosimilars to Stelara® on key commercial formularies.  

Weight Management Continues to Evolve

The survey also highlights the growing role of weight management benefits in employer healthcare strategies. Seventy-seven percent of employers said GLP-1 coverage for weight loss is ‘here to stay,’ reflecting the growing importance of these therapies in employer benefit planning. However, employers remain concerned about costs, with 77% expressing concern about the price of GLP-1 medications and 80% reporting they have already limited coverage or are considering limits for weight-loss use.  

To address these concerns, employers are seeking solutions that support long-term health outcomes while helping manage utilization and spending. Employers are also evaluating approaches that combine personalized support, nutrition resources and clinically guided medication management as they consider sustainable weight-management strategies.

Digital Innovation Is Now an Expectation

Employers also view technology as an increasingly important part of the pharmacy experience. Nearly 88% of respondents said digital tools and innovation in healthcare are here to stay. From simplifying navigation to accelerating access to medications, digital capabilities are becoming a core expectation among plan sponsors and members alike.  

Key Takeaways

The survey findings paint a clear picture: employers want pharmacy benefits partners that can help them navigate rising costs, improve transparency and support access to innovative therapies. As the pharmacy landscape continues to evolve, those priorities are expected to remain at the center of benefits decision-making for years to come.

Download the report below to explore the trends, challenges and opportunities shaping pharmacy benefit management today and learn what employers expect from their PBM partners in the years ahead.