Product Listing Agreements (PLAs): managing drug costs within your benefits plan
Since we started our PLA program in 2014, we've helped to lower claim expenses by over $500 million. Due to the success of this program, we continue to negotiate PLAs with drug manufacturers. This helps us to manage the drug costs charged to your plan.
Here are some of our 2022 accomplishments:
We negotiate agreements across a wide array of products. These include high-cost drugs, drugs for rare diseases and drugs for more common chronic conditions. We’ve also amended and enhanced these agreements for some originator biologics and negotiated agreements on biosimilar drugs.
These agreements aim to lower drug prices while maintaining plan sustainability and managing the financial risk associated with new and high-cost prescription drugs. They also help to ensure your plan members have access to a broad range of affordable treatment options.
Questions? We’re here to help.
Please contact your Sun Life Group Benefits representative if you’re seeking PLA savings.