NoviXus: A cost-effective and convenient way to fill your prescriptions
In this era of rising prescription costs, U-M’s prescription drug plan, through the NoviXus mail order pharmacy, furnishes a cost-effective alternative for employees with long-term maintenance medications while also providing the convenience of home delivery. You can eliminate one of your regular errands by having your prescriptions mailed straight to your home.
Sharply rising prices and growing use of specialty drugs continued to impact the university’s prescription drug plan last year. In fact, the total cost of the prescription drug plan was $121.6 million in 2015, an increase of 14 percent over 2014. According to the 2015 Prescription Drug Plan Annual Report, it was the highest increase since the Benefits Office began managing the plan internally in 2003.
The drug plan plays a significant role in how much the university, employees and retirees pay for healthcare. About one out of every five dollars the university spends on health benefits programs goes towards prescription drugs.
The drug plan has successfully limited cost increases and the amount faculty, staff and retirees pay for the plan over time through best practices, aggressive contracts and the clinical expertise of faculty advisors. U-M plan members contribute about 10 percent of the total plan cost through health benefit premiums and copays, less than half the national average of 24 percent reported by the Pharmacy Benefit Manager Institute. The partnership with NoviXus is one part of the university’s strategy to control costs and ensure that members have access to the medications they need.
The Benefits Office encourages employees and retirees to use the features of the drug plan to save on prescriptions, like using the NoviXus mail order pharmacy for long-term medications. NoviXus, which is locally based, is Michigan’s first prescription processing center. Members can get started with NoviXus by calling 877-269-1160 or visiting umich.novixus.com.
Visit the Benefits Office website at hr.umich.edu/prescription-drug-plan to view the 2015 Prescription Drug Plan Annual Report.