Title
Dept/ Agency: Administration/Division of Personnel
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Contract for Pharmacy Benefits Administration
Purpose: To provide Pharmacy Plan Administration (CaremarkPCS Health, L.L.C.)
Entity Name: CaremarkPCS Health, L.L.C.
Entity Address: One CVS Drive, Woonsocket, Rhode Island 02895
Contract Amount: Not to exceed $6,336,556.00
Funding Source: 2024 Budget
Contract Period: July 1, 2024 through June 30, 2027
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. (X) Insurance in compliance with the requirements of EUS
( ) Fair & Open (X) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Estimated Annual Maximum Costs = $6,336,556
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WHEREAS, as a result of collective bargaining negotiations, the City of Newark, New Jersey (the "City"), is required to provide prescription plan services, with co-payments as individually negotiated with each of the City's bargaining units, to all eligible active employees, and to their eligible dependents represented by the various bargaining units with which the City negotiates, who are eligible to receive the prescription plan services provided by CaremarkPCS Health, L.L.C. ("Caremark"); and
WHEREAS, Caremark has submitted a proposal indicating they will provide prescription services with a contract period of July 1, 2024 through June 30, 2027 for an annual estimated cost of $6,336,556.00; and
WHEREAS, this contract is awarded without competitive bidding as an exception to Local Public Contracts Law, pursuant to N.J.S.A. 40A:11-5(m), and in accordance with the requirements of an Extraordinary Unspecifiable Service, N.J.S.A. 40A:11-5(1)(a)(ii); and
WHEREAS, Local Public Contracts Law, N.J.S.A. 40A:11-1, et seq. requires a Resolution of the Governing Body authorizing the award of contracts for Extraordinary Unspecifiab...
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