News

National Employee Benefit Companies (NEBCO) Launches New
Pharmacy Benefits Management Division

WARWICK, R.I., March 11, 2004 — National Employee Benefit Companies (NEBCO), a leading employee benefit wholesale brokerage firm and third-party administrator, today announced the creation of IdealScripts, a Pharmacy Benefits Management (PBM) division. 

Through IdealScripts, NEBCO will directly assist its customers in securing discounts from drug manufacturers and retail pharmacies, rather than relying on outsourced PBM vendors. As a PBM, IdealScripts will provide administrative pharmacy services and customer service to thousands of existing NEBCO customers, while also expanding pharmacy benefits for existing clients who do not already receive administrative services from NEBCO. IdealScripts services include, but are not limited to, claims adjudication, customer service, national pharmacy networks, preferred drug lists, mail order services, clinical services, online reporting, querying capabilities and internet pharmacy services.

“IdealScripts is a progressive PBM that provides personal first-class service and cost saving measures at fair and reasonable administrative fees,” said Samuel H. Fleet, President and CEO of NEBCO.  “In this time of PBM scrutiny and acquisitions, it is critical for employers and other organizations to align with a company that offers strength and security.  NEBCO and IdealScripts share the same management, commitment to quality and customer service, along with programs that are focused on the lowest net dollar amount for prescriptions while providing full disclosure, and quality of care.”

Fleet called IdealScripts a natural fit for NEBCO, given the company’s history of client-driven service. “Our strength is designing benefit plans that are custom-tailored to each client's unique circumstance,” Fleet said. “IdealScripts is committed to identifying the trends affecting costs and quality of care, and devising and implementing predictive modeling, and workable recommendations.

With IdealScripts in place, NEBCO can more effectively manage and administer the full medical and prescription drug program from a single source, resulting in enhanced customer service and improved cost efficiency.

NEBCO partners with A+ rated carriers to deliver the medical benefit component of its programs. The plans administered by NEBCO have typically included a prescription drug benefit with an uncapped annual maximum, making the program extremely popular among seniors.

NEBCO has begun the gradual transition of selected clients’ to PBM services offered by IdealScripts. However, NEBCO will also continue to work with outside vendors.  Pharmacy benefits, co-payments, and pharmacy locations are unchanged for transitioned groups. Plan members can access their benefits and a health information resource center online at www.idealscripts.com.  

About NEBCO

National Employee Benefit Companies, Inc., (NEBCO) is a wholesale brokerage firm and third party administrator with its operations center based in Warwick, RI.   For over two decades, NEBCO has provided innovative insurance solutions through hundreds of brokers, to organizations, employers and unions nationwide and is the endorsed retiree medical administrator  of the American Hospital Association.  American Wholesale Insurance Group Company, the parent company of NEBCO, is the largest independently owned wholesale brokerage organization in the country.