Generics covered in the Coverage Gap, $2 for 30-day supply of generics
redefines value for seniors
Medco Medicare Plan Provides "Specialist Pharmacists" experienced in medications used to treat common chronic conditions that affect seniors
FRANKLIN LAKES, N.J., Oct. 1 /PRNewswire-FirstCall/ -- Many seniors recall the days when a dime could buy quite a bit. While a dime can't buy much anymore, for millions of seniors across the country, it could potentially pay for a day's worth of their medications.
Medco Health Solutions, Inc. (NYSE: MHS), today unveiled the Medco Medicare Prescription Plan(TM), a suite of three new Medicare Part D plan options for 2008 that offers seniors a range of deductible, plan and coverage options for their prescription drug needs.
The new Medco Medicare Prescription Plan portfolio consists of the following:
-- Access plan, a $0 deductible plan with copays for chronic medications
available for as little as $2 for a 30-day supply (when purchasing a
90-day supply of a generic medication via mail), and generics coverage
in the coverage gap;
-- Choice plan, which features a $0 deductible, $2 for a 30-day supply
(when purchasing a 90-day supply of a generic medication via mail), and
access to more than 3,400 prescription drugs;
-- Value plan, a low premium plan with access to thousands of medications
including generic, brand name and specialty drugs.
"The needs of seniors vary greatly - from access to a wide range of medications to a low premium to coverage in the gap - and we've designed a range of plan options for seniors to select based upon their individual needs," said David B. Snow Jr., Medco chairman and CEO. "We've asked seniors what they want from a drug plan and they responded with value, choice and access - so that is what we're committed to providing."
Medco also offers its Medicare PDP plan members access to specialist pharmacists - hundreds of licensed Medco pharmacists who receive special training in specific chronic conditions. Medco's specialist pharmacists work in the Medco Therapeutic Resource Centers(R), which are pharmacies devoted to specific chronic and complex conditions, including diabetes, cancer, cardiovascular disease and pulmonary conditions. With this training and concentrated practice, Medco's specialist pharmacists can offer deeper, more specific guidance if a medication safety issue arises.
Seniors covered by one of the Medco plans will also gain access to a range of tools to ensure the safety of their medications, and to help them save money on their drug costs, including:
-- automated mail-order pharmacies that are designed to eliminate
prescription drug errors; and access to tens of thousands of retail
pharmacies across the country and in Puerto Rico
-- access to Medicare Advisors who are available 24 hours a day, 7 days a
week, and can help plan members identify and understand lower-cost
-- access to the My Rx Choices(R) prescription savings program, a one-of-
a-kind cost-comparison program available via http://www.medco.com that can
help members identify lower-cost medications options based on their
Medco Medicare plan, and calculate savings by month and by year
-- alerts that notify plan members when they are approaching the gap in
coverage, wherein the member is temporarily responsible for the full
cost of their medications
All three plan design options within Medco's PDP are available in 35 Medicare regions, including Alaska, Hawaii and Puerto Rico.
Enrollment for the 2008 plan year begins Nov. 15, 2007 with coverage beginning on Jan. 1, 2008. Those interested in learning more about the Medco Medicare Prescription Plan options can visit http://www.medcomedicare.com, or call toll-free 1-800-758-3605. TTY/TDD users should call 1-800-716-3231.
Medco Health Solutions, Inc. (NYSE: MHS) is the nation's leading pharmacy benefit manager based on its 2006 total net revenues of more than $42 billion.
Medco's prescription drug benefit programs are designed to drive down the cost of pharmacy health care for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by the Medicare Part D Prescription Drug Program. Medco's technologically advanced mail-order pharmacies and award-winning Internet pharmacy have been recognized for setting new industry benchmarks for pharmacy dispensing quality. Medco serves the needs of patients with complex conditions requiring sophisticated treatment through its specialty pharmacy operation, which became the nation's largest with the 2005 acquisition of Accredo Health, Incorporated. Medco is the highest-ranked independent pharmacy benefit manager on the 2007 Fortune 500 list. On the Net: http://www.medco.com.
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward- looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.
|SOURCE Medco Health Solutions, Inc.|
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