TEA’s Pharmacy Benefit Management Plan
It is really easy to spend a lot of money on pharmacy benefits for your employee owners.
Did you know that prescription drug costs are expected to rise approximately 10% in 2023? And that specialty drugs make up only .82% of all medications purchased but account for 42% of all pharmacy costs? That means one employee owner who needs one specialty drug could send your entire pharmacy cost skyrocketing at any time.
Now you have a new way to control those costs—with TEA’s Pharmacy Benefit Management Plan, offered exclusively to members of The ESOP Association.
Join today to provide your employee owners with the high-quality medications they need, while controlling your pharmacy costs!
Scroll down for more information, or email us to set up a free consultation.
Our Partner
TEA has partnered with ProAct—a division of KPH Healthcare, an ESOP company, and TEA member—to provide these Pharmacy Benefit Management services. ProAct owns and operates its own mail order and specialty pharmacies, which generate additional pricing and service value to your company. The company also offers a high-touch service model (see the video to your right) and has a 95% client retention rate.
Who Is Eligible?
- All corporate and professional members of The ESOP Association
Which Companies Are Best Suited to This Plan?
Companies that will realize the greatest value from this plan will:
- Participate in TEA’s Group Captive Health Insurance Plan, or
- Be self-insured, or
- Be fully insured with 100 or more employees/dependents.
Benefits
Join TEA’s Pharmacy Benefit Management Plan today and get these outstanding benefits:
Financial Benefits:
- Potential cost savings up to 18%.
- Robust network discounts.
- Optimized rebates.
- Specialty copay assistance.
- Utilization management programs
- International Mail Order program (optional).
Plan Benefits:
- State-of-the-art mail order and specialty pharmacies, which are wholly owned by our benefits partner and generate pricing and service value for your company.
- Access to medications at virtually any pharmacy in the country, through a nationwide network of more than 67,000 pharmacies.
- Free overnight shipping, free ancillary supplies, and free clinical management programs on all specialty therapies.
- International Mail Order program (optional, $0 copay to members, up to 40% savings to the plan sponsor).
Service Benefits:
- On-going member education.
- Quarterly client reviews.
- Robust reporting package.
- Ready access to your plan data through a secure and convenient mobile app.
- Live customer service, 24/7/365.
- Best-in-class response time.
- Dedicated account management team.
How to Apply
- Email Proact at TEAPBM@proactrx.com
- ProAct will request certain information regarding your current plan and renewal date.
- After receiving this information, someone from ProAct will be in touch within 2-3 business days, or
- If you would like to streamline this process, please visit proactrx.com to request a Risk-Free Rx Savings Analysis.
Learn More in This Free Webinar
Learn how TEA's Pharmacy Benefit Management Plan can benefit your ESOP company be viewing our recent webinar and hearing answers to participant's questions.