TAMPA, Fla., Oct. 4 /PRNewswire-FirstCall/ -- WellCare Health Plans, Inc. today announced the details of its three nationwide prescription drug plans (PDPs). WellCare is one of only 10 companies approved by the federal Centers for Medicare & Medicaid Services (CMS) to offer PDPs nationwide.
WellCare's PDP plans will offer a number of benefits, including $0 generic drug co-pays and no deductible, so beneficiaries can start saving right away. All three plans feature an extensive CMS-approved list of drugs and the ability to have prescriptions filled at over 40,000 pharmacies nationwide.
WellCare Signature(SM) plan's monthly premiums range from $17.13 to $32.73, depending on the state. In general, these premiums are 30 percent below the average of other PDPs offered in their respective state. Beneficiaries who choose the WellCare Complete(SM) or WellCare Premier(SM) plans will have access to additional plan benefits, such as lower brand co- pays, for a slightly higher plan premium.
"As a pharmacist for 20 years, I know that generic drugs are crucial to providing people with affordable access to the prescription drugs they need," said Laura Hungiville, Director of Pharmacy Operations for WellCare. "By offering $0 generics, no deductible and low plan premiums, WellCare's plans are perfect for Medicare beneficiaries who want to keep their drug costs low."
WellCare Plan Benefits WellCare Signature -- $0 generic drug co-pays -- Co-pays for brand-name drugs from $62 to $73, depending on the state (See table for state-specific details) -- No deductible WellCare Complete -- $0 generic drug co-pays -- Low co-pays for brand-name drugs from $15 to $50 -- No deductible WellCare Premier -- $0 generic drug co-pays -- Low co-pays for brand-name drugs from $30 to $60 -- No deductible
There are about 10 million individuals nationwide who are eligible for both Medicare and Medicaid or who will be qualified to receive financial assistance. For most of these individuals, CMS approved the WellCare Signature plan to be offered for no monthly plan premium and no coverage gap in 49 states and the District of Columbia.
Learning More About PDP Options
Medicare beneficiaries who are interested in learning more about one of WellCare's PDP plans can call a special WellCare hotline at 888-307-5151 (TTY users call 888-816-5252) between 7 a.m. and 10:30 p.m. Eastern Time (4 a.m. - 7:30 p.m. Pacific Time), Monday-Friday, or by visiting http://www.wellcare.com . Helpful representatives will discuss the WellCare plan options and send information that includes: a user-friendly guide that simplifies the PDP program, a drug-cost savings worksheet, tips on selecting the best plan, a sample list of covered drugs and a partial list of WellCare's network of more than 40,000 participating pharmacies nationwide.
About WellCare Health Plans, Inc.
WellCare Health Plans, Inc. provides managed care services targeted exclusively to government sponsored healthcare programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, WellCare serves approximately 808,000 members in Florida, New York, Connecticut, Illinois, Indiana, Louisiana and Georgia. WellCare will provide stand-alone prescription drug plans on a national basis under the Medicare prescription drug program. For more information about WellCare, please visit the Company's website at http://www.wellcare.com .
WellCare State-By-State Premium Details WellCare WellCare WellCare Signature Complete Premier State Premium Premium Premium Alabama $26.46 $45.10 $48.95 Alaska $20.05 $40.41 $42.64 Arizona $27.97 $42.43 $44.99 Arkansas $28.38 $46.96 $50.74 California $18.04 $34.79 $36.60 Colorado $26.44 $45.09 $48.30 Connecticut $20.59 $38.61 $41.25 Delaware $19.80 $39.83 $42.67 Florida $18.70 $38.44 $41.41 Georgia $24.91 $44.69 $48.53 Hawaii $19.18 $34.74 $36.40 Idaho $32.73 $50.68 $54.21 Illinois $21.31 $40.97 $43.75 Indiana $27.45 $47.99 $52.23 Iowa $24.45 $43.41 $45.97 Kansas $26.64 $45.66 $48.81 Kentucky $27.45 $47.99 $52.23 Louisiana $25.79 $45.06 $48.95 Maine $23.96 $42.51 $45.48 Maryland $19.80 $39.83 $42.67 Massachusetts $20.59 $38.61 $41.25 Michigan $24.49 $42.16 $45.35 Minnesota $24.45 $43.41 $45.97 Mississippi $29.22 $49.46 $53.70 Missouri $23.82 $44.29 $47.98 Montana $24.45 $43.41 $45.97 Nebraska $24.45 $43.41 $45.97 Nevada $20.84 $41.00 $43.81 New Hampshire $23.96 $42.51 $45.48 New Jersey $17.17 $36.29 $38.82 New Mexico $25.40 $41.81 $44.22 New York $17.13 $33.34 $35.49 North Carolina $24.87 $45.22 $48.99 North Dakota $24.45 $43.41 $45.97 Ohio $19.96 $41.56 $45.05 Oklahoma $28.86 $47.25 $50.98 Oregon $28.14 $45.65 $48.75 Pennsylvania $21.20 $38.29 $41.07 Rhode Island $20.59 $38.61 $41.25 South Carolina $25.71 $45.02 $48.85 South Dakota $24.45 $43.41 $45.97 Tennessee $26.46 $45.10 $48.95 Texas $23.66 $44.91 $48.28 Utah $32.73 $50.68 $54.21 Vermont $20.59 $38.61 $41.25 Virginia $22.85 $43.07 $46.45 Washington (state) $28.14 $45.65 $48.75 Washington, D.C. $19.80 $39.83 $42.67 West Virginia $21.20 $38.29 $41.07 Wisconsin $24.80 $42.24 $44.91 Wyoming $24.45 $43.41 $45.97 WellCare State-By-State Signature Brand Name Drug Co-Pays WellCare Signature Brand Name Drug State Co-Pays Alabama $68.00 Alaska $69.00 Arizona $70.00 Arkansas $66.00 California $69.00 Colorado $71.00 Connecticut $70.00 Delaware $66.00 Florida $66.00 Georgia $67.00 Hawaii $68.00 Idaho $72.00 Illinois $69.00 Indiana $69.00 Iowa $68.00 Kansas $69.00 Kentucky $69.00 Louisiana $67.00 Maine $71.00 Maryland $66.00 Massachusetts $70.00 Michigan $69.00 Minnesota $68.00 Mississippi $68.00 Missouri $68.00 Montana $68.00 Nebraska $68.00 Nevada $69.00 New Hampshire $71.00 New Jersey $66.00 New Mexico $70.00 New York $69.00 North Carolina $67.00 North Dakota $68.00 Ohio $68.00 Oklahoma $67.00 Oregon $73.00 Pennsylvania $68.00 Rhode Island $70.00 South Carolina $67.00 South Dakota $68.00 Tennessee $68.00 Texas $62.00 Utah $72.00 Vermont $70.00 Virginia $67.00 Washington (state) $73.00 Washington, D.C. $66.00 West Virginia $68.00 Wisconsin $69.00 Wyoming $68.00 Cautionary Statement Regarding Forward-Looking Statements
This release contains "forward-looking" statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, including statements related to WellCare's expected 2005 and 2006 financial results, are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause WellCare's actual future results to differ materially from those projected or contemplated in the forward-looking statements. Additional information concerning these and other important risks and uncertainties can be found under the captions "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Registration Statement on Form S-1 originally filed with the Securities and Exchange Commission ("SEC") in June 2005 and Form 8-K filed with the SEC on September 23, 2005 which contain discussions of the Company's business and the various factors that may affect it.
WellCare Health Plans, Inc.CONTACT: Kristen Petrillo of CKPR, +1-312-616-3871, kpetrill@ckpr.biz
Web site: http://www.wellcare.com/