Treasurer Folwell to Discuss $701 Million Savings During January Ask Me Anything | Beaufort County Now | Pharmacy Benefit Manager Contract Will Help State Health Plan Members

Coronavirus Disease 2019 (COVID-19)
News Release:

    (Raleigh, N.C.)     As Congress debates measures to reform and control prescription drug prices, and pharmaceutical industry watchdogs document a continuing trend of higher drug prices in 2022, State Treasurer Dale R. Folwell, CPA, has announced a $701.1 million savings for the State Health Plan has been negotiated.

    Treasurer Folwell will discuss the huge savings during his monthly Ask Me Anything conference call with reporters on Tuesday, Jan. 11. Since taking office in 2017, the treasurer has made it a priority to use the buying power of the 750,000-member State Health Plan to negotiate better, less expensive contracts for health care and prescription drugs. He chairs the State Health Plan Board of Trustees.

    The treasurer recently announced Caremark PCS Health, L.L.C. was selected from among four companies bidding on the Pharmacy Benefit Manager (PBM) contract for the State Health Plan for calendar years 2023 through 2025. The PBM develops lists of covered medications. It uses its purchasing power to negotiate with drug manufacturers to obtain rebates and discounts that help to control members' out-of-pocket spending and blunts the rising costs of pharmaceuticals.

    Treasurer Folwell also will talk about the damaging effects of inflation on the economy and household spending, and what is happening at the Teachers' and State Employees' Retirement System and the Local Governmental Employees' Retirement System to deal with the rising costs of goods and services.

    What: Treasurer Folwell's January "Ask Me Anything" conference call

    When: Tuesday, Jan. 11, at 10:30 AM

    How: 1-877-336-1828

    Access Code: 8129850

    RSVP: Email: press@nctreasurer.com

    If you'd like to participate, please RSVP to press@nctreasurer.com to ensure that time is allotted for your questions. Full audio will be made available after the call.


   Contact:
   Email: press@nctreasurer.com
   Phone: (919) 814-3820
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