EPIC Insurance Brokers Names Adam Okun President of National Employee Benefits

The landscape of employee benefits is rapidly evolving, with pharmacy costs emerging as a central concern for employers across the United States. EPIC Insurance Brokers & Consultants, a prominent player in the insurance space, has recently taken a significant step in addressing these challenges by promoting Adam Okun to president of its national employee benefits practice. This strategic move comes at a critical time when businesses are bracing for one of the most expensive benefits renewal cycles in years, with prescription drug costs projected to rise substantially in the coming years.

Okun, a seasoned veteran with over 20 years in the employee benefits field, steps into the role following the tenure of Craig Hasday, who now serves as vice chairman of employee benefits. Under Okun's leadership, EPIC aims to integrate its pharmacy consulting subsidiary, Pharmaceutical Strategies Group (PSG), directly into the broader employee benefits framework. This integration signals a commitment to extending sophisticated pharmacy solutions to employers of all sizes, from small businesses to large multinational corporations.

The Rising Costs of Prescription Drugs

One of the primary drivers behind Okun's appointment is the alarming increase in prescription drug costs. According to the 2027 Segal Health Plan Cost Trend Survey, these costs are expected to climb by an astonishing 11.5% by 2027. Of particular note is the significant cost associated with GLP-1 medications, which are used for obesity management and are projected to see pharmacy cost trend rates of 18.3% in 2025 based on Segal's data. This surge in costs is prompting mid-market employers to rethink how they manage pharmacy expenses, shifting from viewing them as a mere line item in budgets to recognizing them as a strategic challenge that requires specialized expertise.

The Complexity of Pharmacy Benefits

As pharmacy benefits become increasingly intricate, employers are finding that traditional brokerage services are no longer sufficient. Craig Hasday emphasizes this shift, stating, "Pharmacy benefits are a uniquely complex endeavor, and employers need expertise that extends beyond traditional brokerage services." Okun's role will be pivotal in developing EPIC's pharmacy integration platform, allowing employers and their employees to access more advanced pharmacy solutions. This is particularly important as the share of employer-sponsored plans using the top three pharmacy benefit managers (PBMs) has declined significantly—from 63.4% in 2025 to 54.3% in 2026.

Aligning Client Segments for Enhanced Service

In addition to focusing on pharmacy benefits, Okun will also work to streamline EPIC's client segments, which include small group, lower middle market, upper middle market, and large national consulting. This alignment aims to provide clients with access to specialized resources and local market knowledge through a single point of engagement. Okun notes, "Our clients' needs are becoming ever more specialized, increasing their reliance on advisors who understand the unique challenges facing their business and workforce." By centralizing these resources, EPIC hopes to enhance the overall client experience and ensure that employers receive tailored solutions that meet their specific needs.

Empowering Employers with Pharmacy Expertise

Okun's vision for the future of EPIC's employee benefits practice revolves around harnessing the full potential of the firm's resources. He is committed to ensuring that clients can access the right specialists, resources, and solutions, regardless of their previous choices or the point of origin of their needs. This approach is crucial as employers navigate the complexities of pharmacy benefits and seek to implement cost-effective solutions that align with their business goals.

The Role of EPIC in the Changing Insurance Landscape

EPIC Insurance Brokers has established itself as a top 20 benefits consultant and broker in the United States, currently serving more than 1,500 employer clients. The company's focus on integrating pharmacy consulting into the employee benefits framework reflects a broader trend within the insurance industry, where brokers are increasingly expected to deliver specialized knowledge and services alongside traditional consulting. With rising prescription costs influencing how employers fund their health plans, the demand for pharmacy expertise has never been greater.

Key Takeaways

• Adam Okun has been appointed president of EPIC's national employee benefits practice.
• Prescription drug costs are projected to rise by 11.5% by 2027, impacting employer health plans.
• EPIC aims to integrate pharmacy consulting into its employee benefits offerings for employers of all sizes.
• The share of employer-sponsored plans using top PBMs has decreased, highlighting transparency and fiduciary issues.
• Okun will align EPIC's client segments to provide better access to specialized resources.

Frequently Asked Questions

What are pharmacy benefit managers (PBMs) and why are they important?

Pharmacy Benefit Managers (PBMs) are intermediaries that manage prescription drug benefits on behalf of health insurers, Medicare Part D drug plans, and large employers. They negotiate prices with drug manufacturers, manage pharmacy networks, and establish formularies (lists of covered medications). PBMs play a crucial role in controlling drug costs and determining how much patients pay out-of-pocket for their prescriptions. As costs continue to rise, employers are increasingly scrutinizing PBMs to ensure transparency and fair pricing.

How can employers manage rising pharmacy costs?

Employers can manage rising pharmacy costs by implementing several strategies, including conducting regular audits of their pharmacy benefits, exploring alternative PBM arrangements, and educating employees about cost-effective prescription options. Additionally, leveraging pharmacy consulting services, like those offered by EPIC's PSG, can provide employers with insights and tools to optimize their pharmacy spending. Engaging with specialists who understand the complexities of pharmacy benefits can lead to more strategic decision-making and ultimately lower costs.

What should employers look for in a pharmacy consulting service?

When seeking a pharmacy consulting service, employers should look for expertise in managing pharmacy benefits, a deep understanding of the current market landscape, and a track record of successfully reducing costs for clients. It is also beneficial to choose a consultant that offers a comprehensive approach, integrating pharmacy solutions with overall employee benefits. Transparency, communication, and a focus on the employer's unique needs are essential qualities that can help ensure that the consulting service delivers tangible value.