County Executive Leopold and Superintendent Maxwell Announce Employee Prescription Savings
New contract saves employees and taxpayers $18 million
Annapolis, MD (August 22, 2012) - County Executive John R. Leopold and Public Schools Superintendent Kevin M. Maxwell today announced a new employee and retiree prescription drug contract with CVS/Caremark will save $18 million over three years.
“We are pleased that our negotiating team was able to again realize significant savings when it comes to employee and retiree healthcare,” County Executive Leopold said. “This new contract will provide excellent benefits for our employees and also save money.”
County government and the public schools together bring the bargaining power of 22,500 employees and retirees, including 4,000 current County employees and 9,000 school system employees. The overall value of the contract, which becomes effective January 1, 2013, is $215 million.
"CVS Caremark has been a valuable long-term healthcare partner with our school system, and this contract enables us to be able to continue to provide comprehensive benefits at improved discounts for our employees," Superintendent Kevin Maxwell said. "We are pleased that, especially in this difficult financial climate, we have been able to lead the charge in this effort and that the County government will be teaming with us to realize savings of its own."