Top 3 Powerful Considerations for Repricing Self-Funded Plan Sponsors’ PBM

Kyle Kapusta  •   August 18, 2021

Last Call to Begin the Process for 1/1/22 Implementations

Self-funded plan sponsors are lucky to have brokers and consultants always searching for the best pharmacy benefit management (PBM) provider on their behalf.  Without their initiative, plan sponsors may not have opportunities to save year over year.

We have made it even easier for brokers and consultants to reprice their client’s pharmacy benefits claims and show the value of what purchasing power and a 100% pass-through contract can provide. Submit our standard questionnaire and the plan sponsors’ current data via email by September 1 to be eligible for 1/1/22 implementation with National CooperativeRx.

How does a repricing benefit plan sponsors?

Savings Estimates Yield Lowest Net Costs

Showing a self-funded plan sponsor how National CooperativeRx can provide savings on their current overall drug spend starts by reviewing the repricing information. We averaged an estimated savings of 29% for 2021 quoted groups.

Why is the timeline so important?

Implementations Take Time

We like to provide plenty of time for confirmation to our PBM partner, CVS Caremark, so we can create a smooth and seamless transition for our members. We feel the implementation process we have created brings the best member and plan participant experience possible. Our notification date for January 1, 2022 implementations is getting closer! All new National CooperativeRx members will need to commit by Friday, October 1, 2021.

What else does National CooperativeRx offer besides great pricing?

Our Member-Owners Are at the Heart of Everything We Do

National CooperativeRx is a not-for-profit organization known industry-wide for its purchasing power and for valuing members over profits. Our newest contract is a testament to this. We focused on greater discounts and contract terms that benefit our member-owners, especially in the growing area of specialty medications. This is the start of how we lower prescription drug spend. Our market checks, claims audits, dividends, and clinical expertise bring us to the finish line of maximum savings.

Upcoming Deadlines

  • September 1: Submit the standard questionnaire and current data
    • Connect with National CooperativeRx sales team
    • Review repricing results
  • October 1: Commit to National CooperativeRx
    • Begin transition and implementation
  • January 1, 2022
    • Go live

Membership to National CooperativeRx isn’t exclusive.  It’s a smart financial decision for any self-funded plan sponsor who wants to experience superior health outcomes. Let’s connect to explore a partnership.