Albany County gets $700,000 check as result of insurance partnership

ALBANY — Albany County Executive Daniel McCoy was presented with a $700,000 check on Thursday at an event that highlighted the county’s partnership with Health Insurance Solutions, a health care company that works with municipalities to lower the cost of prescription drugs.

Since establishing the partnership in 2020, Albany County has saved millions of dollars through Health Insurance Solutions going to Pharmacy Benefit Manager and identifying rebates that should be credited to the county, a press release said.

In 2019, the Pennsylvania-based company conducted a rebate audit and discovered the county had not received the $700,000 it was owed from its prescription drug company, Pharmacy Benefit Manager. The money was presented to McCoy at an event held at the Harold L. Joyce Albany County Office Building Thursday afternoon.

At the event, which included Health Insurance Solutions members, McCoy discussed the contract with the company that has helped the county lower prescription drug costs and save taxpayers’ money.

For more, visit the company’s website.