Aetna and CVS/pharmacy Team up to Offer Co-Branded Medicare Prescription Drug Plan
October 03 2011 - 11:05AM
Business Wire
Aetna (NYSE: AET) and CVS/pharmacy today announced the launch of
a new co-branded Medicare prescription drug plan. The new Aetna
CVS/pharmacy Prescription Drug Plan (PDP) is available in 43 states
and Washington, DC and offers Medicare beneficiaries outstanding
value along with access to experienced CVS pharmacists and the
convenience of shopping at their own neighborhood CVS/pharmacy.
The plan offers a $26 monthly plan premium and has no deductible
for generic drugs. Medicare beneficiaries who sign up for this plan
and fill their prescriptions at a CVS/pharmacy will realize savings
on their out-of-pocket prescription drug costs. By filling
prescription drugs at a CVS/pharmacy, as compared to a
non-preferred network pharmacy, plan members will:
- pay a low $3 copayment for preferred
generic prescriptions; and
- save $10 on copayments for
non-preferred generic and preferred brand prescriptions.
“We are committed to providing value to our Medicare
beneficiaries, and this new plan is not only affordable, it
increases our members’ access to one of the premier pharmacy chains
in the United States,” said John Chomeau, head of Aetna Medicare.
“With 75 percent of the U.S. population in the markets in which
CVS/pharmacy operates living within 3 miles of a CVS drugstore,
Medicare beneficiaries will have convenient access to the
prescription drugs they need through this plan.”
“We are pleased to join with Aetna Medicare to offer Medicare
beneficiaries a Part D plan that provides outstanding value along
with the ease and convenience of filling their prescriptions at
their neighborhood CVS/pharmacy,” said Josh Flum, Senior Vice
President, retail pharmacy, of CVS/pharmacy. “This plan allows
members to build a relationship with their CVS pharmacist along
with the opportunity to realize savings on their
prescriptions.”
In addition to the cost savings on prescription drugs, the plan
offers members a number of other features when they fill their
prescriptions at one of the more than 7,200 preferred CVS/pharmacy
locations, including:
- 24-hour or extended-hour services and
drive-thru pharmacy windows available at most CVS/pharmacy
locations.
- The experience of trained pharmacists
available to dispense prescriptions and helpful advice.
- Care 1on1TM pharmacist counseling
- The CVS/pharmacy ExtraCare Health Card,
which entitles members to a discount on thousands of
over-the-counter CVS/pharmacy brand health-related items.
In addition to CVS/pharmacy locations, members can continue to
access any of the more than 65,000 pharmacies in the Aetna Medicare
network.
How to Enroll in the Plan
Information on the new plan is available starting today. Annual
enrollment for Medicare plans begins Oct. 15, 2011 and continues
through Dec. 7, 2011.
Medicare beneficiaries can find more information and enroll in
these plans by:
- Calling Aetna Medicare at
1-800-529-5586.
- Clicking on aetnamedicare.com or
medicare.gov to enroll.
About CVS/pharmacy
CVS/pharmacy, the retail division of CVS Caremark Corporation
(NYSE: CVS), is America's leading retail pharmacy with more than
7,200 CVS/pharmacy and Longs Drug stores. CVS/pharmacy is committed
to improving the lives of those we serve by making innovative and
high-quality health and pharmacy services safe, affordable and easy
to access, both in its stores and online at CVS.com. General
information about CVS/pharmacy and CVS Caremark is available at
info.cvscaremark.com.
About Aetna
Aetna is one of the nation’s leading diversified health care
benefits companies, serving approximately 36.5 million people with
information and resources to help them make better informed
decisions about their health care. Aetna offers a broad range of
traditional, voluntary and consumer-directed health insurance
products and related services, including medical, pharmacy, dental,
behavioral health, group life and disability plans, and medical
management capabilities and health care management services for
Medicaid plans. Our customers include employer groups, individuals,
college students, part-time and hourly workers, health plans,
governmental units, government-sponsored plans, labor groups and
expatriates. For more information, see www.aetna.com.
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