WASHINGTON, Nov. 18 The Union Labor Life Insurance Company ("Union Labor Life"), a wholly owned subsidiary of ULLICO Inc., a privately held financial and insurance services holding company, announced that Prescription Solutions will provide pharmacy benefit management services to labor group clients.
These services provide unions, union trust funds, union employers and their members with a comprehensive pharmacy benefit plan that offers easy-to-use expense management tools to help achieve significant savings.
For Union Labor Life, the expansion of its product portfolio enables it to be more relevant in the union workplace during these tough economic times. "We fully understand the challenge our labor groups face in balancing the needs of their members with the need to keep costs down," noted Gary L. Burke, President of Union Labor Life. "That's why we selected Prescription Solutions to provide this important service. Their track record shows that they deliver."
According to Ed Feaver, Pharm.D., President of Prescription Solutions, "The key to effective pharmacy benefit management is to offer medications that provide the best clinical value for the patient, promote delivery through the most cost-effective channels like mail service pharmacy and offer medication safety programs to avoid costly and potentially life-threatening adverse drug reactions."
Prescription Solutions provides an array of clinical programs designed to manage prescription drugs for conditions that are driving medical expenses - including chronic diseases such as diabetes, heart disease and high blood pressure.
"Creating targeted programs addressing these key areas helps to improve clinical outcomes, lower costs and ultimately improve the health and well-being of members," said Dr. Feaver.
Steadfast in its commitment to promote, build and sustain the health, security and welfare of the union workplace, Union Labor Life continually evaluates its programs and provides labor groups with innovative options for improvements to their benefit packages.
ULLICO Inc., with $5.3 billion in total assets under management, is an insurance and financial services holding company. ULLICO's subsidiary companies include The Union Labor Life Insurance Company; ULLICO Investment Advisors, Inc.; ULLICO Investment Company; ULLICO Casualty Company; and ULLICO Casualty Group, Inc. Since 1927, the ULLICO Family of Companies has offered quality insurance and investment products and services to its single most important client, the American labor movement. For additional information, visit www.ullico.com.
About Prescription Solutions
Prescription Solutions is an innovative pharmacy benefit management company managing the prescription drug benefit of commercial, Medicare and other governmental health plans, as well as those of employers and unions. A United Health Group company, Prescription Solutions serves members through a national network of 64,000 community pharmacies and state-of-the-art mail service pharmacies in Carlsbad, California, and Overland Park, Kansas, which have both earned the prestigious Verified Internet Pharmacy Practice Sites(TM) (VIPPS®) accreditation by the National Association of Boards of Pharmacy® (NABP®). The company was recently named by WilsonRx® as the No. 1 National Top-Tier PBM, and No. 1 National Mail Order Pharmacy for customer satisfaction two years in a row. Prescription Solutions also won two Silver Awards for URAC's Best Practices for Consumer Empowerment and Protection Awards - Geriatric RxMonitor program (2008) and the Drug Interaction Alert Program (2009). Additional information can be found at www.prescriptionsolutions.com.
SOURCE ULLICO Inc.