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American Medical Agrees To Settle PBM Dispute

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NU Online News Service, March 24, 2004, 11:51 a.m. EST – American Medical Security Group Inc., Green Bay, Wis., says it is hoping to get a one-time, $5.85 million settlement payment from its former pharmacy benefits manager.[@@]

American Medical is a health insurer that serves individuals, families and small groups.

The company has been involved with a dispute with its former PBM, ProVantage Inc., Waukesha, Wis., over prescription drug charges incurred between 1995 and 2002.

Merck & Company Inc., Whitehouse Station, N.J., acquired ProVantage in 2000. American Medical began using another PBM in 2003.