Medical & Prescription Drugs

Medical coverage offers valuable benefits to help you stay healthy and pay for care if you or your covered family members become sick or injured. Parexel offers you a choice of medical plans with a range of coverage levels and costs.

All plans are Preferred Provider Organization (PPO) plans and administered by Blue Cross Blue Shield of Massachusetts.

$1,000 Deductible Plan 

• Lowest deductible and highest contribution rates
• Copays are paid for visits to the doctor’s office and prescriptions
• Other care, like inpatient and outpatient hospital services, you pay the full cost until you reach the annual deductible, then the plan begins paying most of costs through coinsurance

$1,500 Deductible Plan

• Moderate deductible and moderate contribution rates to help balance paycheck and out-of-pocket costs
• Doctor's office visits and hospital services are paid in full cost until you reach the annual deductible, then coinsurance applies
• Prescriptions you pay the coinsurance amount (with am minimum and maximum cost per prescription type) without having to meet the annual deductible first

 $2,850 Deductible Plan & $3,200 Deductible Plan

High-deductible health plans (HDHPs)

• Lower contribution rates, a higher deductible, and a tax-free Health Savings Account (HSA) — with an annual contribution from Parexel to help cover costs

• Money in your HSA rolls forward from year to year and is always yours to keep
• Pay the full cost of expenses until you reach the annual deductible, then the plan begins paying most of the cost through coinsurance.

Key Features

All Parexel's medical plans include:

• Free in-network preventive care — Annual physicals, recommended immunizations, and other routine services are fully covered at 100%
• Fitness reimbursement — Receive reimbursement up to $150 per year for fitness memberships and classes
• Weight-loss reimbursement — Receive reimbursement up to $150 per year for Weight Watchers® (meetings or online) or a hospital-based weight-loss programs
• Annual deductible — Pay for certain medical and prescription drug costs until your annual deductible is met
• Coinsurance — Once the deductible is met, you and the plan share any further health expenses until your out-of-pocket maximum is met
• Out-of-pocket maximum — Each plan protects you by capping the total amount paid each year for medical care. Once met, the plan pays 100% of your eligible expenses for the rest of the year

Prescription drug tiers

• Tier 1 (mostly generics) contain the same active ingredients as their brand-name equivalents and meet the same federal standards for safety but typically cost significantly less

• Tier 2 (formulary) brand-name medications that are favored by a prescription plan based on drug effectiveness and cost
• Tier 3 (nonformulary) brand-name medications that are not on a prescription plan's favored list (or formulary) based on drug effectiveness and cost. They may still be covered but may require prior authorization and cost more

Mail order

Regular medications to treat chronic conditions — such as allergy, high blood pressure, or diabetes can take advantage of the convenience and cost savings of using the mail order program or receive a three-month supply through a local CVS retail pharmacy

Telehealth

Well Connect is a convenient, low-cost Telehealth service where you can see a board-certified doctor through a video visit using a smartphone, tablet, or computer.

Voluntary Benefits

365 HUB

Gives year-round access to personal health advocacy services, price comparison tools, physician performance ratings, expert medical opinions, and more.

Supplemental medical

Provides cash payments in the event of a significant medical expense. Use these payments to cover out-of-pocket expenses that your medical plan doesn't cover or for other expenses such as babysitters, transportation, or your mortgage.

Choose any combination of the following:

• Accident insurance
• Critical illness insurance
• Hospital indemnity insurance

2023 & 2024 Bi-Weekly Rates