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With this partnership, employers and their members using RxPreferred for their pharmacy benefit will have access to all medications available through Cost Plus Drugs.
RxPreferred Benefits is the latest company to partner with Mark Cuban Cost Plus Drugs.Employers and their members using RxPreferred for their pharmacy benefit will now have access to all medications available through Cost Plus Drugs within their benefits package, with future plans to expand this offering along with local independent pharmacies.
“There is an education component for employers and employees needed to help people and their families access the appropriate medications at the best possible costs and live healthy lives,” Jeff Malone, chief executive officer of RxPreferred, said in a press release. “In an otherwise opaque industry, we're committed to bringing transparency to the prescription drug space, making this partnership with Mark Cuban Cost Plus Drug Company vital to our continued efforts in improving healthcare.”
RxPreferred, which bills itself as a transparent pharmacy benefit administrator, launched in 2011 to provide custom pharmacy solutions and now works with employers nationwide to administer their pharmacy benefits plan. The partnership with Cost Plus Drugs gives patients and employers the opportunity to make informed decisions about their healthcare needs, company executives said.
Cost Plus Drugs launched in January 2022 and now carries more 1,000 prescription products. Over the last year, organization has teamed up with several companies including PBMs and insurance companies. The first of these partnerships was created in September 2022, when it granted members of Rightway’s PBM direct access to all medications available through Cost Plus Drugs through a mobile app.
This was followed by a collaboration with Vivio Health, a specialty drug management company, which formed a partnership with Cost Plus Drugs in October 2022 to access specialty drugs from the online pharmacy. The arrangement came about after Mark Cuban appeared on The Daily Show and mentioned how he was able to find a significantly lower cost generic of droxidopa for a friend. The drug is used to treat lightheadedness and dizziness caused by primary autonomic failure including Parkinson’s and multiple system atrophy.
Another partnership, announced in December 2022, brought the Cost Plus Drugs option to self-insured employers. EmsanaRx launched EmsanaRx Plus, a first-of-its-kind drug discount program designed as a standalone product offering access to Cost Plus Drugs to supplement a self-insured employer’s PBM product. The program, which will be available beginning March 1, 2023, will provide access to generics offered through the online pharmacy without employees having to go outside of their health plan benefits. EmsanaRx Plus advocates will assist both employers and employees interested in transferring their medications to the new option, and coordinate with providers on behalf of patients.
Cost Plus Drugs has also began working directly with health plans for the first time when in October 2022 it worked a partnership with Capital Blue Cross in Harrisburg, Pa. Beginning in 2023, Capital Blue Cross members will be able to use their insurance cards at Cost Plus Drugs.