Abarca renews, expands partnerships for pharmacy benefit services with Triple-S, CareFirst

New agreements with two Blue Cross Blue Shield Association plans include Medicaid, Medicare Advantage, Commercial, and Federal lines of business

San Juan (September 30, 2021) – Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with a new approach to technology and business practices, today announced that it has renewed agreements with two Blue Cross Blue Shield Association member plans. Triple-S Management Corporation (NYSE: GTS) renewed its contract for PBM services on behalf of its managed care subsidiary, Triple-S Salud for Medicare Advantage, Commercial, and Federal lines of business. CareFirst expanded its partnership with Abarca to serve Medicaid beneficiaries in Washington, DC and extended it an additional two years.

“We are pleased to earn the continued trust and partnership of two health plans with exacting standards for technology, compliance, member service, and cost management,” said Jason Borschow, president and CEO at Abarca. “We’re looking forward to continuing to collaborate with both of these organizations and building on the progress we have made together.”

Abarca was first selected by Triple-S, an independent licensee of the Blue Cross Blue Shield Association, in 2012 to provide services for the plan’s Medicare Advantage programs. In 2018, Triple-S expanded the agreement to include Commercial and Medicare lines of business. Under the terms of this renewal, Abarca will continue to perform these functions for three years. Abarca will also implement a new medication reconciliation program that will help ensure continuity of safe and efficient treatment regimens for members, after they have been discharged from the hospital.

Abarca began providing PBM services to CareFirst’s Medicaid beneficiaries in Washington DC in 2020, when CareFirst acquired Trusted Health Plan, an Abarca client since 2019. Under the agreement announced today, Abarca will continue to provide services to the Medicaid plan, including a Real-Time Prescription Benefit Program and support for CareFirst’s quality initiatives.

“We believe that Abarca’s success is inextricably tied to that of our clients,” continued Borschow. “And we are committed to working in their best interest–no matter the cost to Abarca.”

To learn more about Abarca’s PBM services, visit abarcahealth.com

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