Friday, May 24, 2024

PEBB Approves New Pharmacy Benefit for UMP Classic Medicare

PEBB Approves New Pharmacy Benefit for UMP Classic Medicare

At yesterdays’ meeting of the Public Employees Benefits Board (PEBB), the board unanimously voted to change the pharmacy benefit for Uniform Medical Plan (UMP) Classic Medicare.  Instead of remaining as a self-insured pharmacy plan, the benefit will transition in 2025 to a Part D pharmacy plan, managed by PEBB.  By making this change in the configuration of the plan, UMP Classic Medicare’s pharmacy benefit will access federal prescription drug subsidies, thereby lowering the overall premium costs for this plan.  The medical benefits will not change, and Moda will continue as the pharmacy manager to maintain member support and continuity of coverage.

The Health Care Authority (HCA) anticipates that the new pharmacy benefit will lower premiums by up to several hundred dollars per month and will reduce pharmacy-related out-of-pocket costs for most UMP Classic Medicare subscribers.

The change to the pharmacy benefit was initiated by RPEC and the PEBB Stakeholders’ Medicare Coalition, which was formed and is chaired by RPEC.

RPEC will partner with HCA on a robust educational campaign for retirees about the new pharmacy benefit and drug coverage.

You will also find extensive handouts on the new pharmacy benefit at www.hca.wa.gov.  Search for the PEBB briefing booklets for the March 21st and April 11th meetings.

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