Prescription Drug Coverage Updates Planned for July 1
Affected Participants to Receive a Letter in June
CVS Caremark™, NRECA’s pharmacy benefit manager, has announced changes to the Performance Drug List effective July 1, 2018. This list is the formulary containing the most commonly prescribed brand and generic drugs that are covered by NRECA’s prescription drug benefit.
CVS Caremark continually reviews and updates the formulary to help ensure NRECA participants have access to safe, reliable and affordable prescription drugs.
These products will be added to the formulary because they have enhanced effectiveness and/or provide more convenient dosages compared to available options on the formulary:
- Mydayis
- Orfadin
These products will be removed from the formulary because they may have less convenient dosages, more side effects or a higher cost compared to other options:
- Synerderm
- Praluent
These products will move from Tier 2 to Tier 3 within the formulary, which may affect the copay or coinsurance amount.
- Azilect
- Fluoxetine tablet (60 mg)
- Namenda XR
- Sivextro
- Beyaz
- Lotronex
- Sustiva
- Voltaren gel
CVS Caremark will send a letter to participants affected by the drug exclusions on June 1. Participants affected by the tier changes will receive a letter from CVS Caremark in early June.
A supplemental medical plan summary of material modifications will be posted to cooperative.com in June for benefits administrators to download and distribute to plan participants.
Participants can visit the Prescription Drug page on the NRECA Employee Benefits website to view the most current version of the Performance Drug List, request mail service (for the most affordable prescriptions) and access drug prices and information. Note: Changes listed in this article will not be reflected on the list until July 1.
If you or your employees have questions about prescription drug coverage or these changes, call CVS Caremark Customer Care at 888.796.7322.