T2679 - Employee Benefits: Pharmacy Benefits Management

The State of New Jersey is seeking a Pharmacy Benefits Manager (PBM) to provide employee benefits for its members. The contract will be for a period of 48 months, starting from January 1, 2027, and ending on December 31, 2030. The selected PBM will be responsible for managing the pharmacy benefits program, including negotiating prices with pharmaceutical manufacturers, managing claims, and providing customer service. The RFP includes a detailed description of the requirements and evaluation criteria for the proposal. Some key aspects of the job include: • Managing pharmacy benefits for the State's members • Negotiating prices with pharmaceutical manufacturers • Managing claims and providing customer service • Implementing a reverse auction tool for pricing • Meeting specific performance metrics, such as a telephone abandonment rate and a time-to-response formula