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LOUISVILLE, Ky.—Humana Pharmacy Solutions has announced two new offerings for self-insured employers, the pharmacy benefits management unit of Humana Inc. announced in a statement Thursday.
The new options include the Wal-Mart Rx Network, which directs employees to fill prescriptions at the international retailer; and the Rx4Value formulary, which swaps certain name brand drugs for generic.
“This is all about predictability,” said William Fleming, president of Louisville, Ky.-based Humana Pharmacy Solutions. He added that by influencing where drugs are purchased and which drugs are purchased, the new offerings give employers a guarantee of what their prescription prices will be annually.
The Wal-Mart-focused network averages 10% savings on annual prescription costs, while the formulary averages 15%. If employers choose to enact both plans, the average savings increases to 20%.
The program is available to self-insured employers with a minimum of 500 employees. By early 2013, Humana plans to offer similar options to fully insured employers, said Mr. Fleming.
For more information about the pharmacy benefits options, call 855-605-6383.