Blue Cross Blue Shield Announces Benefit Management partnership with CVS Caremark
Blue Cross Blue Shield of Massachusetts, a NEC member, recently announced a new partnership with CVS Caremark to provide pharmacy benefits to their clients. This new partnership will help improve health care results and lower prices for members and employees, especially those in the Medicare group.
The two organizations have entered into a three-year agreement that will officially start on January 1, 2023. The partnership is estimated to increase pharmacy savings 10 to 15% for Blue Cross members. CVS Caremark is one of the nation’s largest pharmacy benefit managers, serving over 100 million members. Until the transition, Blue Cross will continue to work with Express Scripts, Inc. as their pharmacy partner.
“Prescription drug coverage is our members’ most used benefit,” said Andrew Dreyfus, president and CEO of Blue Cross Blue Shield of Massachusetts. “We’re working hard to simplify the pharmacy experience, improve health outcomes, and lower costs for our customers and members, and our partnership with CVS Caremark will help us advance that work.”