WOONSOCKET, R.I., Dec. 20, 2013 /PRNewswire/ --CVS Caremark (NYSE: CVS) announced today that the Centers for Medicare and Medicaid Services (CMS) has lifted the sanctions imposed against the Company's SilverScript Medicare Part D Prescription Drug Plan (PDP), effective January 1, 2014.
"We are pleased by this news," said Jon Roberts, President of the pharmacy benefit management business of CVS Caremark. "We have worked hard to implement improvements to address the enrollment processing issues that occurred in early 2013 and are committed to providing our members with quality service and support."
As of January 1st, CVS Caremark will resume marketing of its SilverScript Medicare Part D PDP products and the Company can begin enrolling beneficiaries. The removal of the sanction does not affect the financial guidance provided at the company's annual Analyst Day on December 18th.
About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States. Through the company's more than 7,600 CVS/pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members; and its retail health clinic system, the largest in the nation with more than 750 MinuteClinic locations, it is a market leader in mail order, retail and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans. As a pharmacy innovation company with an unmatched breadth of capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy Advisor program that helps people with chronic diseases such as diabetes obtain and stay on their medications.
SOURCE CVS Caremark