Walgreen Will No Longer Accept Four CVS Caremark Prescription Drug Plans
Walgreen will no longer fill prescriptions for membersof four prescription drug plans offered by CVS Caremark because of "unreasonably lowand below-market" reimbursement rates, the Chicago Sun-Times reports (Guy, ChicagoSun-Times, 11/29). The move will affect members of plans managed for ArcelorMittal, Johnson Controls, Progressive Casualty Insurance and the Wisconsin Education Association Trust (Galante, Bloomberg/Providence Journal, 11/30). Most of the 100,000affected plan members live in
According to Walgreen officials, the company selected the four plans becausethey have the lowest reimbursement rates from CVS Caremark. Trent Taylor,president of Walgreens Health Services, said, "We can't continueaccepting reimbursement rates that are drastically below market" (Manor, Chicago Tribune, 11/30). Walgreen said that CVSCaremark increased the reimbursement rate for a fifth plan but declined toprovide the same increase in the rates for the four affected plans (WallStreet Journal, 11/30).
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