Medco Creates Prescription Drug Benefit Program for Small Labor Unions
Pharmacy benefit manager Medco Health Solutions, in response to a "trend in which smaller unions were being forced to consolidate their prescription drug programs with those of larger ones to obtain the same economies of scale," has created a pharmacy benefit program for unions with fewer than 20,000 members, the Bergen Record reports. The program, called the Medco Labor Coalition, comprises 46 unions with a total of more than 80,000 members and allows the unions to negotiate their own terms for drugs plans while maintaining their existing copayments and formularies.
Members have access to 24-hour assistance from specialist pharmacists for help with problems related to diabetes, heart disease, cancer and other common ailments. A prescription drug safety program also is available to members. In addition, members have access to Medco's online educational and drug comparison tools.
Most of the participating unions are located in upstate New York and Massachusetts, and Medco hopes to double its membership and expand to other states within the next 18 months, according to Frank Gentilella, vice president and general manager of Medco's labor unit (Prial, Bergen Record, 8/15).
