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U.S. employers offering health insurance for a new class of weight loss medications called GLP-1 agonists are expected to nearly double in 2024, according to a survey from Accolade (NASDAQ:ACCD), a health management solution provider.
The survey suggests that 25% of U.S. employers currently offer coverage for the drug group, and that proportion could reach 43% next year amid rising employee interest.
Novo Nordisk (NVO), the maker of the FDA-approved weight loss therapy Wegovy, and Eli Lilly (NYSE:LLY), which is seeking a label expansion for its diabetes therapy Mounjaro for obesity, dominate the market for GLP-1s.
Among those already covering GLP-1s, about a third indicated a strong financial impact from their decision, and two-thirds reported a rise in enrollments after they added the medications for coverage.
However, 21% of respondents were unaware of GLP-1s, while 48% indicated that a lack of information about the medications prevented them from offering coverage.
The survey conducted by Accolade (ACCD) in partnership with research firm Savanta in August and September 2023 was based on responses of 500 U.S.-based medium and large businesses spanning multiple industries.
Notable business health insurers include UnitedHealth Group (UNH), UnitedHealth Group (CVS), Humana (HUM), The Cigna Group (CI)
