SelectQuote secures PBM agreement for SelectRx Pharmacy
SelectQuote’s SelectRx Pharmacy has entered into a new multiyear agreement with a long-standing pharmacy benefit manager partner, improving reimbursement rate visibility and reducing earnings volatility.
The agreement took effect January 1, 2026, and introduces more predictable reimbursement economics for SelectRx, consistent with guidance discussed during SelectQuote’s first-quarter fiscal 2026 earnings call. The contract supports continued investment in the SelectRx pharmacy while limiting exposure to reimbursement variability.
SelectRx serves Medicare beneficiaries in all 50 states and operates three pharmacy facilities across Pennsylvania, Indiana, and Kansas. The business currently supports more than 100,000 members with multiple chronic conditions through a high-touch pharmacy care model focused on medication adherence.
The updated PBM agreement, together with the company’s recently completed refinancing with Pathlight and UMB, provides additional operating stability and financial flexibility.
“Our new contract with this critical PBM partner provides increased visibility to reimbursement rates, allowing us to continue to invest and grow our differentiated SelectRx pharmacy. This new agreement recognizes the clinical value we deliver to our SelectRx patients every day, helping them to achieve increased active medication adherence and improved health and wellness. This agreement, coupled with our recently announced capital structure refinancing with Pathlight and UMB, allows our management team to devote even more focus to operating the business and executing our plan to drive meaningful cash flow for shareholders.” – CEO Tim Danker.
