New Contracts Awarded for Pharmacy Benefit Management, Dental PPO, and Dental HMO
The UT System Office of Employee Benefits is required under state law to request and evaluate competitive proposals at least once every six years for each insurance plan offered as part of the UT Benefits program, including for administrative services provided in support of self-funded plans. This process ensures that the costs and features of the insurance plans and related administrative services remain competitive with the current marketplace. And, most importantly, it ensures that UT System plan participants continue to receive the best possible benefits at the lowest possible overall cost.
Following recent Requests for Proposals (RFPs) and an extensive review process the following contracts were awarded for the health insurance coverage that was subject to bid for the upcoming plan year for University of Texas System employees, retirees, and their dependents. The Office of Employee Benefits is extremely pleased with the results of the competitive bid process and very glad to be able to offer added value and overall savings to all UT SELECT Medical, UT SELECT Dental, and Dental HMO plan participants, particularly given the current economic situation.
Medco was selected to continue providing Pharmacy Benefit Management services for the self-funded UT SELECT Health plan. Of special interest to participants is the continued availability of Medco’s Therapeutic Resource Centers, through which participants can consult specialty pharmacists with advanced training in disease management and specialty medications related to specific conditions, which helps to focus efforts on improving health and reducing overall costs for the plan and for participants themselves.
The self-funded UT SELECT Dental plan will continue to be administered by Delta Dental and will offer similar benefits and access to the existing network of dentists. In addition, UT employees and retirees (and eligible dependents) who enroll or continue their enrollment in UT SELECT Dental for the 2012-2013 plan year will have an opportunity to enroll in a supplemental dental plan that can offset their out-of-pocket costs for major procedures up to a higher annual maximum limit.
The fully insured Dental HMO plan will be provided by Delta Dental beginning on September 1, 2012. The plan will offer similar benefits to those currently offered at a lower monthly premium than the current plan. The Delta Dental HMO provider networks are slightly different than the existing Dental HMO network; therefore, some current Dental HMO participants may need to change their primary dentist for the upcoming plan year. Also, UT employees and retirees in some areas will have access to the Dental HMO plan for the first time.
More details regarding each of these plans will be provided in upcoming newsletters and Annual Enrollment publications.