Following discussions with the Health Council and Government, the Allshores-Phoenix partnership will now be effective from June 1st
Allshores has delayed coverage changes related to its partnership with Phoenix Pharmacies.
Up until yesterday, it was unclear if an online list of 46 specialty and high-cost drugs such as Ozempic and Eliquis would have had any coverage at all at non-Phoenix Pharmacies from April 1st.
Today, Allshores published an online statement advising that, following discussions with the Health Council and Government, changes to coverage will now be effective from June 1st.
The insurer, an amalgamation of Argus and BF&M, also provided detail on how the pharmacy partnership will work…
From June 1st, if a member fills a prescription for one of the 46 medications at Phoenix, they will “benefit from lower — and in many cases zero — copays due to negotiated pricing which is now in effect.”
Allshores stresses that members can still get these medications at non-Phoenix pharmacies if they choose, but they will be considered ‘out-of-network’, and coverage will be 50% or per the member’s Schedule of Benefits.
Allshores states that by partnering with Phoenix, it has secured lower prices on certain medications, which will help members pay less and keep insurance premiums more affordable over time.
Allshores members will be able to continue filling all other prescriptions at any pharmacy in Bermuda with the same coverage they have today, and members should refer to their schedule of benefits for details of coverage.
Current Argus & BF&M benefit schedules on their websites run until May 31st, therefore it can be expected that the new schedules under Allshores should be published soon, ahead of the Allshores-Phoenix partnership coming into effect on June 1st.
Online statement by Allshores:
