SHARx Urges HR and CFO Leaders to Rethink the True Cost of Pharmacy Benefits

As prescription spending continues to squeeze benefits budgets, SHARx says employers should measure the consequences in compensation, hiring, retention, and employee trust, not pharmacy costs alone.

ST. LOUIS, Sept. 1, 2026 /PRNewswire/ -- Rising prescription drug costs and usage are creating consequences far beyond the pharmacy benefit line item, putting pressure on employers' ability to invest in compensation, hiring, and other benefits, according to Paul Pruitt, Chief Growth Officer and Co-Founder of SHARx, a procurement management solution for high-cost prescription drugs. The company is urging HR and finance leaders to treat pharmacy strategy as a workforce and business issue rather than a narrow procurement decision.

Recent Bureau of Labor Statistics data show that private sector employers' health benefit costs increased 6% year over year, compared to a 3.1% climb for wages and salaries. Pharmacy spending is a significant part of this spike, and when it exceeds expectations, employers have limited places to absorb the added expense. Higher employee contributions, larger deductibles, delayed benefit improvements, and tighter compensation or hiring budgets can follow.

"Employees start to question whether healthcare benefits are adding value to their total compensation package and their quality of life. Can they afford to use it? Does the benefit help them get the medications they need?" said Pruitt. "When they do use their benefits, is the process easy and convenient, or is it a giant pain in the neck? These are just some of the questions that make employers and employees rethink the word 'benefit.'"

Employers are under pressure to keep benefits sustainable while still supporting recruitment, retention, and employee wellness. That pressure can lead to difficult plan design decisions about how much of the growing cost the organization can absorb and how much is passed on to employees.

Cost Control or Cost Shifting?

Recent headlines have touted lower drug prices, but Pruitt says employers must distinguish between actually reducing underlying pharmacy costs and simply transferring more expense to employees.

True cost reduction lowers total pharmacy spend through waste reduction measures such as better sourcing, utilization management, alternative access pathways, and elimination of complexity. Cost shifting can reduce the employer's immediate share by increasing deductibles, copays, employee contributions, or coverage restrictions without changing the underlying cost of care.

If total spending remains essentially the same while employees pay more, Pruitt cautions that an employer has not solved the cost problem; they have moved it. Employees may then have greater difficulty accessing prescriptions, while HR teams face more complaints and escalations that can undermine trust in the organization's benefits.

"The entire healthcare industry machine is built upon the illusion of value," Pruitt said. "But the term value needs to take more than a price tag into account. What if another plan is easier, simpler, and your employers make optimal use of its offerings? Isn't that more valuable?"

Pharmacy Spend is Opportunity Cost

For CFOs, Pruitt believes pharmacy inflation should also be viewed through the lens of opportunity cost. Unexpected prescription spending is money that can no longer be directed toward merit increases, additional hires, retirement contributions, leave programs, or other workforce priorities.

For example, if an employer identifies $500,000 in avoidable pharmacy expenses, those dollars could support additional headcount, compensation increases, or other benefit enhancements. The tradeoffs differ by organization, but the broader business question is the same: What else could the organization have done with money spent on pharmacy expenses?

That is why Pruitt argues pharmacy decisions increasingly require joint ownership by HR and finance.

Before annual renewal, he recommends that CHROs and CFOs review total pharmacy spend, year-over-year trend, forecast variance, employer and employee cost share, specialty and GLP-1 exposure, high-cost claimant concentration, prescription abandonment, member complaints and HR escalation volume, alongside recruitment, retention, and compensation priorities.

Putting Predictability in the Equation

Pruitt also cautions employers against defining success solely as achieving the lowest projected pharmacy cost.

A sustainable strategy should provide accurate forecasts, a clear approach to specialty medications and GLP-1s, access to necessary therapies, and protection against unexpected pharmacy increases that can trigger broader budget problems. The strongest strategy balances affordability, access, member experience, and predictability.

For employers, that changes the central question from, "How much does our pharmacy benefit cost?" to "What is our pharmacy strategy allowing or preventing us from doing for our people?" The answer can shape more than healthcare spending, influencing hiring, compensation, and overall employee experience.

About SHARx
SHARx was founded to fight back against the broken system of overpriced prescription drugs. Industry pioneers Corey Durbin and Paul Pruitt built SHARx to put people before profits. With an innovative and ethical sourcing model, SHARx cuts through the waste with radical transparency, common-sense cost containment, and a member-first approach. No hidden markups. No games. Just the meds people need, delivered affordably, reliably, and with dignity. A growing list of notable sports voices, including Sophie Cunningham, standout guard for the WNBA Indiana Fever, Brock Osweiler, former NFL quarterback and college football analyst for ESPN, and Heath Shuler, former NFL quarterback and SEC Player of the Year, are helping amplify SHARx's fight to restore financial equity to a broken healthcare system. Learn more at SHARXplan.com

Sources:

• Keshner, A. (2026, August 3). Disappointed by your skimpy pay raise? Blame your healthcare benefits. MarketWatch. marketwatch.com/story/disappointed-by-your-skimpy-pay-raise-blame-your-healthcare-benefits-8025491b
• U.S. Bureau of Labor Statistics. (2026, July 31). Employment Cost Index—June 2026. U.S. Department of Labor. bls.gov/news.release/eci.nr0.htm
• Brown, C. (2026, August 17). Why prescription drug prices are plunging. Axios. axios.com/2026/08/17/drug-prices-medicare-trump
• Nesbitt, J. (2026, July 15). Rising health costs push employers to rethink benefits strategies. Employee Benefit News. benefitnews.com/news/small-employers-face-surging-healthcare-costs

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SOURCE SHARx