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Effective January 2023, the organization will switch from Express Scripts to CVS Caremark.
Blue Cross Blue Shield of Massachusetts has announced a new relationship with CVS Caremark, the pharmacy benefit management business of CVS Health. Beginning January 1, 2023, CVS Caremark will support Blue Cross in managing pharmacy benefit services for its commercial and Medicare groups and individual health plans.
“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,” Andrew Dreyfus, president and CEO of Blue Cross Blue Shield of Massachusetts, said in a statement.
The new agreement is expected to generate cumulative pharmacy savings for Blue Cross customers of between 10% to 15% over the course of the three-year contract. CVS Caremark will support the processing of pharmacy claims, negotiate contracting with pharmaceutical manufacturers on behalf of Blue Cross, offer mail-order dispensing and other pharmacy network options for Blue Cross members.
The organization’s current PBM is Express Scripts.
Blue Cross is the largest private health plan in Massachusetts with 2.8 million members.