Starbucks is ending GLP-1 coverage for weight loss as employer costs climb
Starbucks will stop covering the GLP-1 drugs for weight loss, adding to a broader employer retreat from an increasingly costly benefit.
Starbucks is set to end coverage for GLP-1 drugs, which are used for weight loss, for its benefits-eligible employees starting in October. This decision comes as GLP-1 drugs have become a significant share of employers' healthcare spending. While Starbucks is pulling back on coverage for weight-loss drugs, some other large employers, such as Bank of America, are investing heavily in the benefit.
Bank of America spends over $250 million annually on GLP-1 coverage, which accounts for about 13% of its healthcare budget. The trend of limiting coverage for GLP-1 drugs is part of a broader recalibration of benefits, as soaring costs are prompting employers to limit eligibility.
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