Prescription Drug Coverage Updates Taking Effect January 1, 2024

CVS Caremark™, NRECA’s pharmacy benefit manager, has announced changes to the NRECA Medical Plan’s prescription drug coverage that will take effect January 1, 2024.*

CVS Caremark recently mailed a letter to participants whose prescription drugs will be affected by these coverage changes, providing options and steps for them to take in seeking an alternative prescription.

On January 1, 2024, all prescription drug lists reflecting these updates will be posted on the Prescription Drug page within the BA Guide and accessible to participants at cooperative.com > My Benefits > My Insurance > Prescription Drug. Lists include the Performance Drug List, featuring the most commonly prescribed brand and generic drugs.

Note: In 2024, the summary plan description (SPD) will no longer directly list all prescription drugs covered under the NRECA Medical Plan; instead, this information will be provided on the Employee Benefits website as noted above. As a result, participants should review the prescription drugs lists available on the website to determine prescription drug coverage on a quarterly basis. Due to this change, quarterly SMMs for changes to the prescription drug lists will no longer be necessary. We’ve taken these steps to help lighten your administrative load while still making this important information easily accessible to you and your employees.

If you or your employees have questions about prescription drug coverage or about these updates, call CVS Caremark Customer Care at 888.796.7322.

*CVS Caremark continually reviews and updates drugs covered under the plan to help ensure NRECA participants have access to safe, reliable and affordable prescription drugs.

---