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PROPOSED CONTRACT AMENDMENT
Department(s): Risk Management
Vendor: Caremark/CVS, LLC, Northbrook, Illinois
Request: Authorization for the Chief Procurement Officer to increase contract by $46,500,000.00 and extend for one (1) year
Good(s) or Service(s): Pharmacy Benefit Management Services
Contract Period: 12/1/2010 - 11/30/2013
Contract Period Extension: 12/1/2013 - 11/30/2014
Current Contract Amount Authority: $140,400,000.00
Board Approved: 05/18/2010, $140,400,000.00
Board Increase(s): N/A
Chief Procurement Officer Increase(s): N/A
This Increase Requested: $46,500,000.00
Potential Fiscal Impact: FY 2014 $46,500,000.00
Accounts: 490-176, 499-176 and 899-176 to be charged monthly to the respective accounts based on actual utilization.
Contract Number(s): 04-41-875 (Amended to include 2010 pricing commitment)
Concurrences:
The vendor has met the Minority and Women Owned Business Enterprise Ordinance.
The Chief Procurement Officer concurs.
Summary: Caremark/CVS provides pharmacy benefits management services to eligible Cook County employees and their dependents. This contract was originally awarded as a result of a 2010 Request for Proposals in coordination with the City of Chicago, Chicago Public Schools, City Colleges of Chicago, Chicago Transit Authority and Chicago Park District. It resulted in this three (3) year contract with two (2) one (1) year renewal options; this amendment represents the first option for renewal. Caremark has agreed to implement a pricing improvement retroactive to 9/1/2013. The expiration of the current contract is 11/30/2013.
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