Products July 1, 2008

Principal-Caremark Extend Partnership

July 1, 2008 (PLANSPONSOR.com) - The Principal Financial Group has renewed its pharmacy benefits contract with CVS Caremark, according to a news release.
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CVS Caremark will implement new programs for The Principal that offer lower drug prices, pharmacy discounts, and access to health care services through MinuteClinic, a subsidiary of CVS Caremark.Members now have in-network access to MinuteClinic, the largest provider of retail-based health care in the U.S., with more than 500 clinics in 25 states, the announcement said.

Members with health coverage from The Principal will also receive a new CVS Caremark ExtraCare Health Card that provides a 20% discount on more than 1,300 FSA-eligible, CVS-exclusive products at CVS/pharmacy stores and online at CVS.com.

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“In the ongoing battle to fight rising health care costs, we ‘ re looking at a variety of ways to pass on savings to our customers and their employees. This allows us to have a direct impact on claim cost savings, which we see as a huge victory, “  said Ray Webster, chief medical officer for the Principal Financial Group, in the release. “ At the same time we ‘ ve lowered drug costs, we ‘ ve also added new benefits, giving members access to even greater savings and faster access to care. “

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