MADISON, Wis., Oct. 30 /PRNewswire/ — Navitus Health Solutions LLC announced that the State of Wisconsin Department of Employee Trust Funds (ETF) has renewed its current agreement with the pharmacy benefits provider for a term of four years. As such, Navitus will continue to provide a comprehensive and cost-effective pharmacy benefit program for more than 230,000 state and local employees, retirees and their dependents.
“Navitus performs better than traditional PBM models. It has provided substantial savings to our health care programs,” said Tom Korpady, Administrator of the Division of Insurance Services at the Department of Employee Trust Funds (ETF). “Since 2003, we’ve increased coverage, reduced member copays, and decreased our net drug costs by almost $30 million. We continue to experience long-term savings with our drug spend at five to six percent lower than national averages.”
Navitus’ program offers lower costs on carefully selected medications that are monitored for safety and effectiveness by a team of physicians and pharmacists. The company negotiates discounts and rebates with participating pharmacies and drug manufacturers on covered medications and then passes along 100 percent of the savings to its members and customers.
“Navitus is committed to providing its members and customers with the highest-quality prescription benefit services and exceeding current drug savings,” said Allan Zimmerman, president and CEO of Navitus Health Solutions. “Our mission is to deliver innovative, high-quality products and programs to assist the state in lowering its prescription drug costs and improving the quality of care for their members.”
About the State of Wisconsin Department of Employee Trust Funds
The State of Wisconsin Department of Employee Trust Funds administers retirement and other benefit programs for more than 500,000 Wisconsin Retirement System (WRS) participants and 1,400 employers. The programs cover state and local government employees and retirees. The mission is to develop and deliver quality benefits and services to members while safeguarding the integrity of the Trust.
About Navitus
Navitus Health Solutions LLC is a health management company that specializes in pharmacy benefit administration services. The company’s services include benefit design and consulting, formulary management, pharmacy network management and clinical programs. With offices in Madison and Appleton, the company provides its services to more than 500,000 individuals, including state employees, retirees and their dependents, as well as employees of managed care organizations, self-insured employers, coalitions and union organizations. For more information about Navitus Health Solutions, visit http://www.navitus.com/.
