The California Public Employees’ Retirement System (CalPERS) has appointed CVS Caremark for its preferred provider organizations (PPO). CVC will be administering prescription drug benefits for over 346,000 members of PERS Select, PERS Choice and PERSCare. CVS Caremark will be replacing Medco Health Solutions, which has been the PPOs’ pharmacy benefits manager since July 1, 2006. The new three-year agreement represents around $565 million in annual drug spending.
Click here for the release from CalPERS.
