Doug Truax, CEO and Founder of Everlong Captive Health Insurance, says Everlong helps clients save money from the continuously rising prescription cost with the use of "a cost-effective and completely transparent Pharmacy Benefits Manager, and an innovative specialty drug program."

"Self-funding in the Captive also enables employers to take advantage of Everlong’s best-in-class solutions to lower claims costs themselves," Truax said. "These include leading population health analytics and predictive modeling to drive effective disease management programs, a cost-effective and completely transparent pharmacy benefits manager, and an innovative specialty drug program to rein in spiraling drug costs."

According to The Commonwealth Fund, pharmacy benefit managers, or PBMs, manage prescription drug benefits on behalf of health insurers' Medicare Part D drug plans, large employers and other payers by negotiating with manufacturers and pharmacies to control the spending. These companies have a huge impact on the cost for insurers because they develop the lists of covered medications by a health insurer, negotiate rebates and discounts to manufacturers and reimburse beneficiaries for drugs dispensed by contracting with individual pharmacies. PBMs get larger rebates for expensive drugs than for ones that provide better value at lower costs.

A Pew Center report in 2019 found that "net revenue for pharmacies on retail prescription drugs increased from $30.8 billion in 2012 to $76.9 billion in 2016" and "manufacturer rebates grew from $39.7 billion in 2012 to $89.5 billion in 2016."

"Private health insurance, Medicare, and Medicaid accounted for 82% of total retail prescription drug spending in the U.S. in 2017," according to research published from the Kaiser Family Foundation. Private health insurance paid $140 billion, Medicare Part D paid $101 billion, Medicaid paid $33 billion, out-of-pocket totalled $47 billion and other payers accounted for $13 billion.

The government is following Everlong's footsteps and also sees the need for transparency. In 2021, the Consolidated Appropriations Act, under Section 204, included a new requirement for insurance companies and employer-based health plans to submit information about prescription drugs and health care spending called the RxDC report.