NEWARK, N.J., Sept. 23 /PRNewswire/ -- Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) announced today that it has been awarded a contract with the Centers for Medicare & Medicaid Services (CMS) allowing it to offer four new Medicare Prescription Drug Plans to New Jersey Medicare beneficiaries. Two of the four plans will be stand-alone drug coverage options. The other two plans will combine prescription drug coverage with a Medicare Advantage (HMO/POS) plan.
As of November 15, 2005, Medicare beneficiaries can begin enrolling in a Medicare Part D prescription drug plan offered by Medicare-approved companies. The initial enrollment period is from November 15, 2005 through May 15, 2006. Coverage can begin as early as January 1, 2006.
"As the oldest and largest health insurer in the state, Horizon Blue Cross Blue Shield of New Jersey has long been committed to meeting the needs of our state's Medicare beneficiaries," said Robert Meehan, vice president of consumer and commercial markets at Horizon BCBSNJ. "We have built upon our extensive experience in serving New Jersey's Medicare beneficiaries and we have designed affordable, common sense prescription drug plans to meet their needs."
Horizon BCBSNJ is taking a leadership role to provide information about the Medicare Part D plan. The Medicare Modernization Act of 2003 provides for the federal government to cover a significant portion of the cost of an individual's prescription drugs.
Over the next few months, Horizon BCBSNJ will present educational programs on all aspects of the new Medicare prescription drug benefit. Through Horizon BCBSNJ's educational series, Medicare beneficiaries will learn who qualifies for Medicare Part D, the advantages and disadvantages of choosing this new option, as well as how to select the plan that best meets their needs.
"We understand that Medicare beneficiaries may have a lot of questions about the new prescription drug benefit program," Meehan added. "That's why Horizon Blue Cross Blue Shield of New Jersey will be focused on providing easy to understand information about the program in order for Medicare beneficiaries to make an informed decision about which prescription plan works best for them."
Medicare beneficiaries who take part in New Jersey's Pharmaceutical Assistance to the Aged and Disabled (PAAD) program are required to enroll in a Part D plan starting on January 1, 2006. PAAD will coordinate benefits with Medicare Part D plans so that beneficiaries receive their full PAAD benefits. PAAD will help Medicare beneficiaries enroll in a Part D plan that meets their prescription needs.
Horizon BCBSNJ was the first insurer in the state to offer Medicare supplemental insurance after Medicare was first signed into law 40 years ago. Today Horizon BCBSNJ covers more than 160,000 Medicare beneficiaries throughout all 21 counties of New Jersey, more than any other insurer in the state.
Horizon Blue Cross Blue Shield of New Jersey, with headquarters in Newark, is New Jersey's largest health insurer providing coverage to more that 3.1 million people. Horizon BCBSNJ's company Web site is located at http://www.HorizonBlue.com. Horizon BCBSNJ is an independent licensee of the Blue Cross and Blue Shield Association.
Horizon Blue Cross Blue Shield of New JerseyCONTACT: Tom Rubino of Horizon Blue Cross Blue Shield of New Jersey,+1-973-466-8755, trubino@horizonblue.com
Web site: http://www.HorizonBlue.com/
