Clients Projected to Save 20% in Pharmacy Costs
MedCost is pleased to announce a new pharmacy benefit manager (PBM) partnership with RxBenefits and OptumRx. Effective November 1, 2022, this arrangement will replace the current OptumRx offering through MedCost. The RxBenefits-OptumRx partnership offers additional savings to our clients—an average savings of 20% is anticipated, as well as an opportunity for enhanced management of pharmacy benefits through robust clinical programs.
What can clients expect with this PBM transition?
-
No changes to plan design, formulary, or utilization management.
-
Rebates paid on same schedule; earnings will improve post transition.
-
New ID cards issued to members at no cost.
-
Opportunity to implement additional programs to enhance pharmacy utilization and cost management (available at plan renewal or upon client request).
Please note that moving to the new RxBenefits-OptumRx arrangement will require a signed joinder agreement. Your MedCost Account Manager will forward the paperwork to you by August 1, 2022.
We are excited to share this new pharmacy savings and service opportunity with our clients. Please contact your Account Manager or Client Relations Specialist with any questions.