T2679 - Employee Benefits: Pharmacy Benefits Management

The State of New Jersey, through the Department of the Treasury's Division of Purchase and Property, is soliciting a single contractor to provide Pharmacy Benefits Management (PBM) services for the State Health Benefits Program and the School Employees' Health Benefits Program. The scope of work includes managing retail, mail-order, and specialty pharmacy networks, developing formularies via a Pharmacy and Therapeutic Committee, and providing comprehensive member and client management services. Award will be based on the most advantageous quote, evaluating the bidder's personnel qualifications, firm experience, and technical approach to the scope of work. Pricing is submitted via a Reverse Auction Tool and is based on administrative fees, dispensing fees, and ingredient cost guarantees. The contract imposes stringent insurance and security requirements, including professional liability insurance of at least 5 million dollars per occurrence and cyber breach insurance of 10 million dollars per occurrence. Contractors must adhere to a 72-hour security incident reporting window and utilize NIST-approved methods for secure data disposal. Key legal obligations include compliance with the New Jersey Prompt Payment Act, the MacBride principles of nondiscrimination, and the New Jersey Prevailing Wage Act. Additionally, the contractor must provide Most Favored Nation pricing terms and undergo annual market checks. All services must be performed within the United States, and bidders must provide various certifications, including business registration and affirmative action compliance, prior to the award.