Equalis Group partnered with Health Action Council (HAC) to publicly procure this PBM coalition master agreement. HAC operates the longest-running not-for-profit PBM coalition in the United States. This coalition is one of the largest coalitions in the country in terms of total annual PBM spend and covered lives. Equalis Group and HAC jointly established the only nationally available publicly procured PBM coalition.
CVS/caremark Contract Highlights
- Savings – an average of 15 to 25% savings to Equalis Group members.
- Member Market Check – a detailed evaluation of the projected savings and the impact of transitioning to SourceRx.
- Flexible Contract Options – Transparent, Traditional & Average Script Price.
- Stop Loss Insurance Policies – three available stop loss insurance policies including aggregate, aggregate + specific, and guaranteed cost.
- Claims-Level Pricing Guarantees – applies coalition pricing on a per claim, per employer basis – not in the aggregate across all claims.
- Consistent Pricing Regardless of Size – all participating employers receive the same prescription pricing, regardless of the number of employees.
- Built-in Price Decreases – as the size of the coalition increases, pricing for all participating groups decreases.
- Three-Year Pricing Guarantee – protects against future prescription drug price increases.
- Annual Audits – individual audits to verify master agreement terms and pricing are properly applied to each participant; participants receive full refunds of any identified overcharges.
- Annual Market Checks – an intensive process of securing pricing from competing PBM providers each year to ensure the most competitive pricing is available to SourceRx participants.
Critical Supporting Documentation
Download this contract confirmation letter to secure written documentation of the solicitation and awarded contract, the Contract # for your files, utilization eligibility, and how to receive answers to any additional questions you may have.
Share The Member Kit With Your Procurement Team
Facilitate your procurement and compliance team’s review and approval of this cooperative contract by providing them this Member Kit. The Member Kit contains: i) an overview of Equalis Group and how our Lead Agencies procure contracts, ii) the contract confirmation letter, iii) an overview of the awarded supplier and the products and services available through this contract, and iv) commonly asked questions about Equalis Group membership and how to access any of our publicly procured, competitively solicited contracts.
Who is CVS/caremark?
CVS/caremark is a PBM and retail drug store operator with more than 300,000 associates. CVS opened its first retail location in 1963 and now operates more than 9,900 retail locations nationwide. Caremark spun off from Baxter in 1992, developed its initial formulary, and introduced clinical intervention programs. The companies merged in 2007, forming the nation’s premier integrated pharmacy services provider. CVS/caremark acquired Aetna in 2018 to incorporate Aetna’s provider network and health insurance benefits capabilities.
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