69. Zero-Copay Generic Drugs & Six-Figure Savings w/ Trace Voshell

In this episode of The Business of Benefits, host Donovan Ryckis sits down with Trace Voshell, Chief Revenue Officer at GoGoMeds, to expose one of the most overlooked cost drains in employer healthcare: generic drug inflation. While most employers focus on high-cost specialty medications, Trace reveals that generic drugs, covering 80-90% of employees on medication, are systematically overpriced by 30-60% through PBM spread pricing and hidden conflicts of interest.Trace pulls back the curtain on how PBMs profit twice (on adjudication and through ownership of mail order pharmacies), why brokers often block cost-saving solutions (hint: per-script kickbacks), and how employers can bypass these roadblocks even when they feel "handcuffed" to large carrier PBMs. With real case studies showing $45,000 to $140,000+ in annual savings, this episode proves that transparent cost-plus pharmacy pricing can deliver six-figure savings while offering employees zero-copay medications.What You'll Learn: - Why generic drugs represent the biggest overlooked savings opportunity in pharmacy benefits - How PBM "spread pricing" allows them to pocket the difference between what they charge you and what they pay pharmacies - The shocking conflict of interest: PBMs owning their own mail order pharmacies and profiting twice - Why brokers often block pharmacy savings solutions (per-script fees and backend compensation) - Real case studies: How a 70-employee shop saves $45K annually and larger groups save $130K-$140K+ - The difference between GoGoMeds and Mark Cuban Cost Plus Drug Company - How to bypass PBM roadblocks with direct-to-employer pharmacy arrangements - The vague PBM contract language that enables systematic overcharging (and how to spot it) - A 60-second ChatGPT hack to identify unfavorable terms in your PBM contract - Why zero-copay generics are a powerful recruitment, retention, and employee trust-building tool - How to implement mail order generic pharmacy mid-year without waiting for renewal--------------------------------Get more on our guest Trace at:GoGoMedshttps://gogomeds.com/GoGoClient/LinkedIn: Trace Voshellhttps://www.linkedin.com/in/trace-voshell-34040b7a/Whether you're an HR professional, CFO, CEO, or just tired of rising healthcare costs, this is your call to rethink benefits strategy and finally take control.Connect with Chelsea and Donovan:The Business of Benefits Podcast Website:https://www.businessofbenefitspodcast.comInstagramhttps://www.instagram.com/businessofbenefitspodcast/Chelseahttps://www.linkedin.com/in/chelsea-ryckis-8508a192/Donovanhttps://www.linkedin.com/in/donovanryckis/--------------------------------Finished with the content? Claim your CE credit here:https://ideas.ethosbenefits.com/continuing-educationSHRM:Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities.HRCI:Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.