DOVER — On Monday, the State Employee Benefits Committee approved award of pharmacy benefit management to CVS Health.
Over a three-year period, the contract with CVS Health is estimated to provide pricing guarantee improvements of $200 million or 21.8%, compared to the current contract.
For 2021, prescription drug cost trend is expected to continue to outpace the Consumer Price Index, driven mostly by increases in specialty drugs. The decision made by the SEBC addresses the continued increase in prescription drug prices while maintaining the availability of prescription benefits for State of Delaware Group Health Plan members.
The State Group Health Plan will transition to CVS Health for active employees and non-Medicare retirees on July 1, 2021. Medicare retirees will transition on Jan. 1, 2022.