WASHINGTON, Nov. 15, 2012 /PRNewswire/ -- Coventry Health Care and preferred pharmacy provider Walgreens are coming together to educate Medicare beneficiaries about their prescription drug plan options for the 2013 plan year enrollment period, running now through Dec. 7, 2012.
To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/58573-coventry-health-care-and-walgreens-educate-medicare-beneficiaries
"Medicare beneficiaries have heard a lot of debate about the new health care law and its impact on their benefits during this year's election," said Matt Eyles, vice president of public affairs and policy at Coventry, which is offering its First Health Part D Value Plus Medicare prescription drug plan for the 2013 plan year. "It's important for beneficiaries to know that anyone who is eligible for Medicare continues to have the right to join a Medicare prescription drug plan to get help paying for prescription drug costs."
Medicare Part D is a federal program that offers prescription drug coverage to anyone with Medicare. Today, 32 million Medicare beneficiaries, more than half of those enrolled in Medicare, receive their prescription drug coverage through Part D."There are changes to Medicare each year and important information beneficiaries need to know, whether they're selecting a plan for the first time or evaluating if their current plan is still the best option," said Suzanne Hansen, Walgreens group vice president of pharmacy operations. "In Coventry's First Health Part D Value Plus plan, where Walgreens is a preferred network provider, we're able to offer a number of benefits including convenient access to pharmacy services and cost savings on prescription drugs. With the Medicare population growing rapidly each day, more and more people 65 and older are seeking personalized care from our community pharmacists to help them get, stay and live well." The following are key facts beneficiaries need to know about the Medicare Part D prescription drug plan:
- Anyone who is eligible for Medicare may join a Medicare prescription drug plan to get help paying for prescription drug costs.
- The health reform law calls for gradually lowering out-of-pocket costs when seniors enrolled in Medicare Part D reach the coverage gap, otherwise known as the "donut hole."
- Beginning in 2011, enrollees who reached the gap began receiving a 50 percent manufacturer discount on the total cost of brand-name drugs and additional subsidies for generic medications.
- Medicare will phase in additional subsidies for brand-name drugs beginning in 2013.
- Average premium of $24.00 to $33.90 per month
- $0 annual deductible
- A Medicare preferred pharmacy network of nearly 17,000 locations, including Walgreens, Walmart, Target, Kroger and Kmart pharmacies*
- $0 co-pay on Tier 1 formulary prescriptions (Preferred generics) at preferred pharmacies during the Part D initial coverage period; $7 co-pay on Tier 1 formulary prescriptions (Preferred generics) at other contracted pharmacies
- Lower co-pays on Tier 2 and Tier 3 formulary prescriptions when filled at preferred pharmacies
- 90-day supply of prescriptions available through retail pharmacies
- Where available, access to preferred value generics, which will help members who enter the coverage gap
- Vouchers mailed to enrolled First Health Part D Value Plus members for health and well-being products (e.g., multivitamins, calcium tablets) that can be redeemed at any preferred pharmacy.