Faculty, staff will see prescription benefit manager change for 2018

Human Resources reports a benefits change that will become effective Jan. 1. CVS Caremark will become the new prescription benefits manager, replacing Express Scripts. The manager, sometimes referred to as the PBM, helps Purdue manage pharmacy benefits by working with drug manufacturers to establish pricing arrangements; setting the formulary of covered preventive, generic and brand-name drugs, and overseeing the review of drug use.

The University is part of a state purchasing program for prescriptions, mandated by state law. The law requires universities in Indiana to partner with the State of Indiana for joint purchasing of prescription drug coverage. The plan was put out to bid, and CVS Caremark was selected.

The change will bring overall savings to employees and the University with limited disruption to plan participants. More information about covered drugs and pricing will be forthcoming leading up to the open enrollment for benefits, which will run from Oct. 27 through Nov. 10.