When it comes time for FORTUNE 500® companies to review their prescription benefit plans, CVS' PharmaCare subsidiary is showing up on a lot of short lists these days. That's because the nation's fourth-largest pharmacy benefits manager (PBM) offers payors a comprehensive, cost-effective solution that's very competitive. PharmaCare won important new business in 2005, including a major contract for the State of Connecticut covering 190,000 lives. In addition to its traditional mail order business, PharmaCare's network of 51 specialty pharmacies and a state-of-the-art specialty mail facility provide prescriptions and counseling for patients with complex medical needs. As for "overall service and performance," the Pharmacy Benefit Management Institute recently ranked PharmaCare No. 1 in its annual Customer Satisfaction Report for the fifth consecutive year.

The launch of the Medicare Part D prescription drug benefit provides a significant growth opportunity for PharmaCare. Universal American Financial Corp. has tapped PharmaCare to provide a full array of PBM services on an exclusive basis for its Medicare plans. PharmaCare is responsible for claims processing, network contracting, formulary management, disease management, mail order, and specialty pharmacy services.