Pennsylvania Employees Benefit Trust Fund (PEBTF) Announces New Prescription Benefit Manager for Commonwealth of Pennsylvania Employees and Retirees

HARRISBURG, Pa.--(BUSINESS WIRE)--The Pennsylvania Employees Benefit Trust Fund (PEBTF) today announced that CVS Caremark was awarded a three-year contract to provide prescription drug benefits to Commonwealth of Pennsylvania employees, retirees and dependents beginning July 1, 2012.

CVS Caremark is one of the country's largest pharmacy benefit managers (PBMs). Covering more than 60 million members, CVS Caremark provides plan sponsors and participants access to a network of approximately 65,000 pharmacies including more than 7,300 CVS/pharmacy stores. The PEBTF account will be serviced from the CVS Caremark mail order pharmacy in Wilkes Barre, Pa, the specialty pharmacy in Monroeville, Pa and the customer service center in Monroeville, Pa.

CVS Caremark was selected following a rigorous competitive-bidding and capabilities review process. In addition to its network and clinical programs, PEBTF members, under the CVS Caremark Maintenance Choice 2.0 program, will now be able to pick up their 90-day supply of maintenance medications at any CVS retail pharmacy at the same low copay as the mail order pharmacy.

The Pennsylvania Employees Benefit Trust Fund (PEBTF), established in 1988, is the single largest employer group purchaser of insurance in Pennsylvania. The PEBTF administers health care benefits to approximately 186,000 active employees and their dependents. The PEBTF is governed by a Board of Trustees comprised of both commonwealth and union representatives. In addition, the PEBTF administers retiree health benefits for approximately 101,000 Commonwealth of Pennsylvania retirees and their dependents enrolled in the Retired Employees Health Program (REHP). General information about the PEBTF may be found on its website, www.pebtf.org.

CVS Caremark (NYSE: CVS) is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. CVS Caremark is a pharmacy innovation company uniquely positioned to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country’s largest pharmacy benefits managers (PBMs), CVS Caremark provides access to a network of more than 65,000 pharmacies, including more than 7,300 CVS/pharmacy stores that provide unparalleled service and capabilities. The clinical offerings provided include the signature Pharmacy Advisor^TM program as well as innovative generic step therapy and genetic benefit management programs that promote more cost effective and healthier behaviors and improve health care outcomes. General information about CVS Caremark is available through the Company’s website at http://info.cvscaremark.com/.