Retiree Benefits 2014
Caremark Prescription Service
Caremark will be expanding its services to offer diabetic supplies at CVS pharmacies subject to the same plan limitations as under the mail-service program
Retirees can fill maintenance medications for themselves and their dependents at a local CVS pharmacy or through the Caremark Mail-Order Service program.
A maintenance medication is a drug that will be taken for three months or more. Caremark members will be able to fill an 84- to 90 -day supply of maintenance medication at CVS pharmacies for the same co-payment as the 90-day Caremark Mail Service prescription benefit.
Expansion to Caremark Prescription Mail-Order Service
Caremark prescription-drug coverage has expanded its mail-order service. Caremark now offers the choice of filling maintenance medications for you and your dependents at a local CVS pharmacy or through the Caremark Mail-Order Service program.
A maintenance medication is a drug you will be taking for three months or more. You will be able to fill up to a 90 -day supply of maintenance medications at a CVS pharmacy for the same co-payment as your 90 -day Caremark Mail Service prescription benefit.
Due to some state restrictions on the dispensing of controlled substances at a retail pharmacy, all supplies of controlled substances larger than the state restriction limit (usually a 30-day supply) must continue to be obtained from the Caremark Mail Order Service program. In addition, for prescriptions requiring a medical diagnosis, such as oral contraceptives or Retin A acne medication, you will be asked to provide the medical diagnosis to the pharmacist before the prescription can be filled.
You should have received a CVS Caremark ExtraCare Health Card in the mail recently, which you can use to receive up to 20 percent discounts on select CVS-brand items sold at any CVS store. If you have not received this card, please call 1-888-543-5938.
April Pension Check Will Reflect COLA Increase
If you began receiving pension benefits in December 2014 or earlier, you’ll find that the amount of your April 2015 pension check will go up. The increase is a cost-of-living adjustment (COLA) that takes place every year if there is an increase in the Consumer Price Index (CPI). This benefit, not found in most pension plans, helps protect your retirement income from inflation. Your pension plan provides an automatic COLA equal to 75 percent of the change in the CPI, with a maximum of 3 percent in any given year.
This year’s COLA increase is 0.60 percent.
So, if your monthly pension has been $1,000, it will increase to $1,006 in April.
Increases Since 1987 Total 73.14%
Since going into effect in April 1987, the COLA has provided a cumulative increase in pension benefits of 73.14 percent. If you started receiving a pension in 1986, you have received the full benefit of this cumulative increase.
CIGNA 1-800-244-6224 www.cigna.com
The Benefits Telephone Service Is There for You
The Employee Benefits Service Center telephone number is available from 9 a.m. - 4 p.m., Monday through Friday, except holidays. The number is 1-800-582-5056 for questions about benefits.