White Plains, NY\u2026<\/strong><\/p>\n

Amalgamated Employee Benefits Administrators, one of the nation\u2019s leading third party administrators (TPA) for unions, businesses, associations and self-insured plans, announced today that it has launched AEBRx (www.aebrx.com<\/a>), a new Pharmacy Benefit Administration (PBA) service. This union affiliated, innovative, end-to-end PBA service will focus on helping plan sponsors effectively manage high-cost specialty drugs while providing excellent service and access to a national network of retail pharmacies with mail order capabilities. Amalgamated Employee Benefits Administrators has partnered with Magellan Rx Management<\/a>, a full-service pharmacy benefits management division of Magellan Health, Inc.<\/a> (NASDAQ: MGLN) as the engine for AEBRx.<\/p>\n

Taft-Hartley trust funds and plan sponsors will have the opportunity to realize significant cost savings from the standard inclusion of both the Payer Matrix and ELMCRx Solutions’ Tesser Health programs. These two programs work in conjunction to create an advanced specialty drug cost management program and specialty drug prior authorization service that results in a 40% average savings while also limiting stop loss liability.<\/p>\n

AEBRx offers a user-friendly, easy to navigate platform powered by Magellan Rx Management. It features visually engaging dashboards, intuitive functionality, and real-time data that is readily accessible online. Robust tools connect plan members on a 24\/7 basis to drug and related healthcare information from their mobile devices or desktops. Using AEBRx\u2019s responsive member portal and quick response (QR) codes on select specialty prescription labels, plan members can easily access information and medication videos on demand and obtain refill reminders with real time alerts.<\/p>\n

Paul Mallen, President and CEO of the Amalgamated Family of Companies stated, \u201cSpecialty drug costs represent 50% of the overall pharmacy benefit spend and that figure continues to rise. Further, for every $1 spent on specialty drug costs, there typically is at least another $1 spent on medical benefits. At the Amalgamated Family of Companies, we are committed to providing solutions that effectively help contain healthcare costs for trust funds and plan sponsors, as well as their members and we are excited to launch this innovative service.\u201d<\/p>\n