Blue Cross Blue Shield of Massachusetts (Blue Cross) announced a new relationship with CVS Caremark,™the pharmacy benefit management business of CVS Health, designed to simplify the pharmacy experience, improve health outcomes and lower costs for members and employers. Beginning January 1, 2023, CVS Caremark will support Blue Cross in managing pharmacy benefit services for its commercial and Medicare groups and individual health plans. The new agreement is expected to generate cumulative pharmacy savings for Blue Cross customers of between 10%-15% over the course of the three-year contract. As one of the nation's large pharmacy benefit managers, CVS Caremark serves more than 100 million members, and successfully reduces prescription drug costs for clients and their members, resulting in low single-digit percent growth for overall client prescription drug spend in 2020. Through this new relationship, CVS Caremark will support the processing of pharmacy claims, negotiate contracting with pharmaceutical manufacturers on behalf of Blue Cross, offer mail-order dispensing and other pharmacy network options for Blue Cross members. CVS Caremark will work closely with Blue Cross and its employer customers to understand their population health goals and make members' pharmacy experience more affordable, easy to access, and simple to follow. As part of CVS Health, CVS Caremark innovates with clients to manage chronic diseases more effectively through community-based or home-based health services as well as enhanced digital connectivity. Blue Cross will continue to work closely with its current pharmacy benefit partner, Express Scripts Inc., to ensure a smooth transition in early January 2023.