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Franklin Lakes, N.J. — Tuesday, July 1, 2003 — Medco Health Solutions, Inc., America's leading provider of prescription healthcare services, today announced an agreement under which Medco Health will become a licensed BenefitPoint Premier Carrier Partner, effective July 1, 2003.
Through BenefitPoint Inc., Medco Health will offer registered healthcare benefit brokers and consultants the opportunity to access web-based marketing and educational materials and receive online bid proposals with increased speed, accuracy and efficiency.
Through web-based technology, BenefitPoint provides licensed brokers and consultants with client management and customer service tools, streamlined RFP and renewal processes and reporting capabilities. As a Premier Carrier, Medco Health will use BenefitPoint to market and distribute standalone prescription benefit solutions to brokerage and consulting offices, representing thousands of employers nationwide.
Larger clients, with more than 15,000 plan participants, will be managed directly by Medco Health, while clients with fewer than 15,000 members will be managed by Systemed, L.L.C, Medco Health's wholly owned subsidiary that focuses on the unique requirements of small to mid-sized enterprises.
"Our partnership with BenefitPoint broadens our reach and enhances relationships with brokers and consultants who offer their clients standalone prescription benefit solutions," said David Karlin, senior vice president of sales, Systemed. "Additionally, this provides a unique opportunity to increase brand awareness among brokers and consultants who serve smaller and mid-sized employers, one of the fastest-growing markets for pharmacy benefit services."
Beyond responding to RFP and renewal requests, Medco Health will use the BenefitPoint Product Library and Knowledge Base to distribute plan information electronically. The application will also house educational, marketing and sales tools that brokers can use to improve their understanding of prescription drug benefits, help drive new business opportunities and manage their clients' prescription drug plans effectively.
"BenefitPoint enables us to speed up the procurement process by collaborating and responding online with brokers and consultants on a common application," said Karlin.
About Medco Health and Systemed
Medco Health Solutions, Inc., is the nation's leading provider of prescription healthcare services, based on $33 billion net revenues in 2002. Medco Health is a wholly owned and independently managed subsidiary of Merck & Co., Inc. (NYSE:MRK) and assists its clients to moderate the cost and enhance the quality of prescription drug benefits provided to 62 million Americans.
Medco Health's Systemed L.L.C. subsidiary capitalizes on the company's extensive pharmacy benefit management capabilities to meet the specific needs of small to mid-size clients. Systemed serves clients directly, as well as through third-party administrators, brokers and consultants.
About BenefitPoint
BenefitPoint delivers an advanced web-based platform for client management and procurement, making it easier for employee benefits professionals to buy, sell and manage benefits. Brokers, consultants and carriers realize expanded business opportunities, operational efficiencies and a greater ability to deliver quality information and services to employers and employees.
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