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: $356,037,000.00
Contract period: 12/1/2023 - 11/30/2026, with (2) two (2) two-year renewal options
Potential Fiscal Year Budget Impact: FY 2023 $118,679,000.00, FY 2024 $118,679,000.00, FY 2025 $118,679,000.00
Accounts: 11250.1021.10155.501715
Contract Number(s): 2205-08290B
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via direct participation.
The Chief Procurement Officer concurs.
Summary: This contract will allow Cook County Department of Risk Management to provide Pharmacy Benefits Management Services for all eligible employees.
The Department of Risk Management respectfully submits this item requesting authorization for the Chief Procurement Officer to award a contract to CaremarkPCS Health, LLC (CVS Health) to provide Prescription Drug Benefits Management Services. The Pharmacy Benefits Manager provides HMO and PPO health plan members access to prescription drugs.
This contract is awarded through a publicly advertised Request for Proposals (RFP) in accordance with Cook County Procurement Code. CaremarkPCS Health, LLC, Northbrook, Illinois was selected based on established evaluation criteria.
.end