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SJVIA forms ad hoc committee to re-check PBM proposals, empowers short extension if needed
Summary
The San Joaquin Valley Insurance Authority board authorized an ad hoc committee of two supervisors to work with staff on clarifying pharmacy benefit manager proposals and, if necessary, to authorize up to a six-month extension of the current PBM contract while further review is completed.
The San Joaquin Valley Insurance Authority on Aug. 27 approved forming an ad hoc committee to probe pharmacy benefit manager (PBM) proposals and gave the committee limited authority to seek a temporary extension of the current PBM arrangement if clarifications take longer than expected.
The move followed staff presentations that found inconsistencies and “hidden fees” in finalists’ executable contracts and questioned certain rebate assumptions. Borden Darmakina, a consultant on the marketing process, told the board that finalists’ responses had materially changed as vendors updated formularies and contract language during the review.
Why it matters: Pharmacy spending is a major driver of the SJVIA’s rising costs. Board members said errors and late changes in PBM proposals could cost members and…
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