CVS Caremark

CVS Caremark Corporation is the pharmacy benefit management subsidiary of CVS Health Corporation, headquartered in Woonsocket, Rhode Island. As a pharmacy benefit manager (PBM), CVS Caremark handles prescription drug plans and is distinct from CVS Pharmacy, which is the retail subsidiary of CVS Health. CVS Caremark provides prescription benefit management services including mail order pharmacy services, specialty pharmacy and infusion services, plan design and administration, formulary management, and claims processing. The company acts as a pharmacy-benefit manager for plan sponsors, including employers, health-insurers and government employee health plans, administering prescription-drug benefits for their members or employees.