Pill for a health cost headache: Wal-Mart’s Low-Cost Drugs in N.J. — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Pill for a health cost headache: Wal-Mart’s Low-Cost Drugs in N.J.

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Health insurance premiums for New Jersey families covered by employer plans rose about 80 percent over the past six years and grew a whopping 5.5 times faster than their income, according to a Families USA study.

From 2000 to 2006, median income in New Jersey rose 14.4 percent, from $31,923 to $36,511. Average annual health care premiums rose from $7,592 to $13,620 for families, and from $2,911 to $4,360 for individuals.

On the bright side, Wal-Mart recently expanded its new low-cost generic drug program to New Jersey. The retailer offers $4 generic prescriptions at more than 49 Wal-Mart and Sam’s Club pharmacies throughout the state. Target and some other retail pharmacies are promising to match the deal.

Advice: Now’s a good time to educate your employees about generic drugs and suggest they take advantage of the low-cost program. While maybe not a cure, it might take the edge off the headache of rising health care costs for your organization and your employees.  

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