title
PROPOSED CONTRACT
Department(s): Risk Management
Vendor: CaremarkPCS Health, LLC, Northbrook, Illinois
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Pharmacy Benefits Management Services
Contract Value: $204,727,769.92
Contract period: 12/1/2014 - 11/30/2017, with two (2) one (1) year renewal options
Potential Fiscal Year Budget Impact: FY 2015 $63,370,948.32, FY 2016 $68,123,769.45, FY 2017 $73,233,052.15
Accounts: 490-181, 499-181, 899-181
Contract Number(s): 1455-13418
Concurrences:
The vendor has met the Minority and Women Owned Business Enterprise Ordinance.
The Chief Procurement Officer concurs.
Summary: The Risk Management Department is requesting authorization for the Chief Procurement Officer to award a contract with CaremarkPCS Health, LLC, otherwise known as CVS/Caremark, for Pharmacy Benefits Management (PBM) Services as a result of a Joint Procurement Request for Proposals (Joint RFP) for the Board of Education of the City of Chicago (CPS), Chicago Park District (CPD), Chicago Transit Authority (CTA) and Cook County. This Joint RFP was done in accordance with the County Procurement Code Section 34-142, and the Government Joint Purchasing Act, 30 ILCS 525. CVS/Caremark's proposal is the most financially and administratively compelling multi-year offer to the Cook County membership, and they continue to offer advantages to manage pharmacy including Pharmacy Advisor, Maintenance Choice, and Specialty programs.
This contract will provide eligible Cook County employees and their dependents with prescription drug benefits for retail and mail-order services. The proposed contract is for a three (3) year period with two (2) one (1) year renewal options.
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