Rebate Formulary Analyst

CVS Health • Northbrook, IL

1d • Hybrid

About The Position

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. This is a hybrid position. Position Summary As a Rebate Formulary Analyst, you will perform a critical role in the analysis of Medicare and Commercial formularies to determine client eligibility for rebates with respect to manufacturer contractual guidelines. To support accurate rebate invoicing, you will be responsible for meeting manufacturer contractual obligations by completing a thorough interpretation of the contract and thorough analysis of formulary and plan design data on a monthly/quarterly basis. In this role, you will support overall team production by assisting during pharmaceutical disputes and collaborating on day-day tasks such as: Conducting specific formulary research to support Rebate forecasting and underwriting teams during the manufacturing contract negotiating process; Clinical Managers and Client Support Services as they work with clients in the development of formularies; Rebate audit team as questions arise on audits by manufacturers and clients. Adhering to quality control process in review of formulary rebate eligibility and contributing to enhancing our quality control processes. Review contract language necessary to support formulary rebate contracts. Maintaining filings for Caremark and client specific formulary publications. Exhibiting strong analytical skills working with contract language Demonstrating flexibility and adaptability to take on additional tasks to support the department. Very light travel, if any, may be requested to support business activity.

Requirements

• 1+ year of professional experience or internships.
• Strong reading comprehension skills.
• Capability to communicate details clearly and accurately.
• Bachelor's Degree Preferred or currently enrolled in a four year Bachelor's program with an anticipated graduation date in spring or summer (May-October) 2026 required.

Nice To Haves

• Experience in a formulary, health care, contracting, or similar role
• Caremark Formulary and/or Rebate knowledge beneficial.
• Experience with Caremark business systems, claims adjudication, formulary, drug, and client systems with an emphasis on the RxClaim adjudication platform beneficial.
• Medicare knowledge beneficial.
• Ability to work independently and with people across functional area.
• Ability to work in a hybrid team environment.

Responsibilities

• Analysis of Medicare and Commercial formularies to determine client eligibility for rebates with respect to manufacturer contractual guidelines.
• Meeting manufacturer contractual obligations by completing a thorough interpretation of the contract and thorough analysis of formulary and plan design data on a monthly/quarterly basis.
• Conducting specific formulary research to support Rebate forecasting and underwriting teams during the manufacturing contract negotiating process
• Collaborating with Clinical Managers and Client Support Services as they work with clients in the development of formularies
• Collaborating with Rebate audit team as questions arise on audits by manufacturers and clients.
• Adhering to quality control process in review of formulary rebate eligibility and contributing to enhancing our quality control processes.
• Reviewing contract language necessary to support formulary rebate contracts.
• Maintaining filings for Caremark and client specific formulary publications.
• Exhibiting strong analytical skills working with contract language
• Demonstrating flexibility and adaptability to take on additional tasks to support the department.

Benefits

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level