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Board approves formulary updates and a slate of benefits contracts, including a UnitedHealthcare premium adjustment
Summary
The board approved changes to the drug formulary, a 3-month retiree pilot contract, renewals for Optum and Colonial Life, approval to pursue a Catalyze Health pilot (estimated $150,000 setup), and a UnitedHealthcare rate adjustment that raises plan costs by $50 per member month (roughly $5 more per affected member).
The State Board of Finance approved a package of benefits and contract actions affecting employee and retiree health coverage, including formulary changes, vendor renewals and a proposed pilot.
On pharmacy coverage, the board reviewed Navitus-proposed formulary updates and consultant recommendations. The presenters highlighted step-therapy additions for some products, removal of the emergency-use Paxlovid formulation because it is no longer produced, and coverage changes such as moving Novolin (a vial) to not covered with grandfathering for one affected…
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