The Welfare Fund’s prescription benefit
Sep 25, 2008 2:54 PM
Next February, the UFT will switch providers for its prescription drug plan from Express Scripts to Medco. This change follows a careful process in which the union’s Welfare Fund reviewed its plan in order to continue to ensure the best coverage possible for UFT members.
The UFT Welfare Fund began the review process of the management of its prescription drug plan for in-service members one year ago. As part of the process, a Request for Proposals (RFP) was issued, which allowed companies to bid on these services. The review process encompassed all facets of the plan, including pricing, network capabilities, and service concerns.
The Welfare Fund undertook this review for two reasons: First, just like we do at home, it makes sense on a periodic basis to look at whether outside contractors are giving our members the best service at the best prices. Second, there has been a huge consolidation in the prescription benefit management (PBM) world over the last few years. (For example, CVS purchased Caremark, which is one of the top three PBMs in the country.) As a result of this competitive environment, the Fund believed there was an opportunity to enhance the pricing and member services we bring to the members.
Following several months of review, including on-site visits of drug dispensing locations, the Trustees of the Fund have approved the move from Express Scripts, Inc. (ESI) to Medco Health Solutions, effective February 1, 2009.
What does this mean for UFT members?
The Fund staff has been working all summer on all aspects of the implementation to ensure a smooth transition.
PLEASE NOTE: ALL CO-PAYS, PRIOR AUTHORIZATIONS, GRANDFATHERING RULES AND PLAN DESIGNS WILL REMAIN THE SAME AND WILL BE AUTOMATICALLY MOVED TO MEDCO’S SYSTEMS.
You will be able to use the same local pharmacy that you have used in the past. However, the mail order pharmacy will switch to a Medco facility (we will provide new mailing envelopes for your use).
This is the first of several monthly articles that the Fund will be printing in the New York Teacher describing the process. Then, in December and January, every member will receive a direct mailing to their home that will define the process of transferring prescriptions and refills to the new company. New prescription cards will be issued in January as well.
We hope to bring enhanced Web access and service to all of our members while keeping all access and all costs the same.
There is nothing you need to do at this time. Please follow the articles in the New York Teacher and look for our December and January mailings, which will keep you informed.
