WellCare to transition pharmacy benefit management to CVS Health

Health insurer WellCare Health Plans said it would transition its pharmacy benefit management to CVS Health Corp from Jan. 1.

About 3.8 million WellCare members enrolled under the company’s Medicaid, Medicare and prescription drug plans will be able to access CVS’ pharmacy network, WellCare said on Thursday.

Pharmacy benefit managers administer drug benefits for employers and health plans and run large mail order pharmacies, helping them get better prices from drugmakers.

(Reporting by Amrutha Penumudi in Bengaluru; Editing by Kirti Pandey)

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