Allshores ‘Pharmacy Network’ Initiative In Effect
The ‘pharmacy network’ involving Allshores and The Phoenix Stores is now in effect, after being delayed following the initial announcement.
A spokesperson said, “As we communicated in March this year, from June 1, 2026, Allshores is establishing a pharmacy network that will help us lower the costs of a small list of very expensive drugs. This list represents 3% of prescriptions. The remaining 97% of prescriptions can be sourced with the usual coverage at a member’s pharmacy of choice.
“The benefits of this arrangement come from reducing the costs of a small group of very expensive drugs. They represent a third of prescription costs, even though they are a very small percentage of the number of prescriptions.
“We are not the only insurer who has a network pharmacy, which can offer lower costs to its members. The difference with Allshores is that we are setting up our network through a partnership with a Bermudian company, rather than through ownership.
“At the heart of this initiative is a commitment to ensure members receive the care they need without financial hardship. By reducing the acquisition cost of these specialist medications, we have been able to expand coverage to 100% for most eligible members—removing significant out-of-pocket costs that many patients previously faced. This approach allows us to improve access to life-changing treatments while helping maintain affordable and sustainable health plans for employers and members alike.
“We have good news for members living with diabetes who use GLP-1 medications. Based on several years of clinical experience and feedback from our physician community, pre-certification is no longer required for members diagnosed with diabetes.
“We remain committed to making access to care as simple and effective as possible and will continue working with our physician partners to modernize the authorization process for obesity and weight management treatments. We encourage members to work closely with their doctors to determine the most appropriate treatment plan for their individual health needs.
“The full details of our plan along with the full list of medications that are part of this programme and The Phoenix Stores pharmacies in the network can be found on our website at allshores.com/pharmacy. Members can also review their Schedule of Benefits and contact us with any questions at pharmacy@allshores.com”
