CareFirst BlueCross BlueShield Renews PBM Contract with CVS Caremark

CVS Caremark will provide pharmacy and other services to 1.2 million CareFirst members

Baltimore, MD (September 05, 2017) - CareFirst BlueCross BlueShield (CareFirst) announced today that it has renewed its agreement with CVS Caremark, the pharmacy benefits management business of CVS Health, to provide pharmacy benefit and other related services to its commercial and health care exchange members through 2023.

Under the terms of the agreement, CVS Caremark will continue to provide a specialized account team to help support the integration of pharmacy data and information into key CareFirst initiatives, which include CareFirst’s Patient-Centered Medical Home (PCMH) and Total Care and Cost Improvement (TCCI) programs. These programs share a common goal of improving care quality while reducing or slowing the rise of care costs.

“We’re pleased to renew a partnership with CVS Caremark that will allow us to continue to offer excellent pharmacy benefits to our members,” said Chet Burrell, CareFirst President and CEO. “CVS Caremark has and will continue to play a key role in improving our members' health through its role in key medical programs that focus on prescription drugs and its connection with many of our focused medical programs.

“Accurate and complete pharmacy claims information is essential to maximizing the value of our PCMH and TCCI programs for our members and accounts,” Burrell said, “and CVS Caremark has already proven itself capable of delivering the outstanding service necessary to do that.”

In addition, CareFirst members taking specialty medications can also use CVS Specialty, the specialty pharmacy of CVS Health, which includes 24/7 access to specially trained nurses and pharmacists that provide disease management services and support as well as the flexibility to pick up specialty prescriptions at any CVS Pharmacy location or have their medications delivered.

“Since 2014, we have managed the pharmacy benefit for CareFirst, and we are pleased to continue and grow our longstanding partnership,” said Jon Roberts, Chief Operating Officer of CVS Health. “We believe that CVS Caremark’s integrated and innovative pharmacy care model and unique enterprise assets play an important role in helping support the coordination of care, and we look forward to continuing to work with CareFirst to improve the health outcomes of their members while lowering overall costs.”

About CareFirst BlueCross BlueShield

In its 79th year of service, CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.2 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2016, CareFirst invested nearly $44 million to improve overall health, and increase the accessibility, affordability, safety and quality of health care throughout its market areas. To learn more about CareFirst BlueCross BlueShield, visit our website at www.carefirst.com or follow us on Facebook, Twitter, YouTube, LinkedIn, Instagram or Google+.

About CVS Health

CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health. Through its 9,700 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 90 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. For mor information on how CVS Health is shaping the future of health, visit their website.

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