FRANKLIN LAKES, N.J., April 6 /PRNewswire-FirstCall/ -- Medco Health Solutions today announced that nine of its clients have decided to co-brand Medco’s Medicare-approved prescription discount card program. Medco is one of 28 Medicare-approved prescription discount card sponsors.
As part of the co-branding partnerships, Bankers Fidelity Life (a subsidiary of Atlantic American Corporation ), Health Alliance Plan, FirstCarolinaCare, Inc., Medical Mutual of Ohio, Nationwide Health Plans, NeighborCare, Inc. , Oxford Health Plans, Inc., The Health Plan of the Upper Ohio Valley, Inc., and WPS Health Insurance will offer Medco’s Medicare-approved prescription discount card to their customers and other Medicare beneficiaries in their respective markets.
“These partnerships can provide Medicare beneficiaries with cost savings and clinically oriented programs designed for the unique issues confronted by seniors,” said John Driscoll, senior vice president, Medco. “Together we can leverage our partners’ familiarity and experience in the marketplace, with Medco’s size, scale and clinical expertise to offer a meaningful prescription drug benefit.”
The co-branded prescription discount cards will provide Medicare beneficiaries with access to discounts ranging up to 30 percent or more on virtually all branded and generic prescription medications on the list of drugs the Centers for Medicare and Medicaid Services (CMS) has approved as eligible for coverage. In addition, Medicare beneficiaries will have access to:
-- Medco’s Mail Order Service, which provides safety and dispensing accuracy with the convenience of home delivery, and may offer additional cost-savings -- Drug utilization review (DUR) to help reduce medication errors -- 40,000 retail pharmacies in Medco’s Medicare-approved discount card programs -- Generic drug substitution programs to ensure members have access to lower cost generics, when clinically appropriate, as soon as they are available -- An award-winning Web site, http://www.medco.com/, which offers convenient access to prescription benefit information, online pharmacy transactions and an expansive library of healthcare information -- Around-the-clock access to Medco’s Customer Care Center where members can speak with one of the company’s 1,800 highly skilled pharmacists about their medications, or a customer service representative, who can assist with pharmacy transactions and plan questions
Registration for the co-branded prescription discount cards will begin on May 3. Medicare beneficiaries can enroll by mail, though Medco’s toll-free hotline, or online at http://www.medco.com/. Additional information about Medicare- approved discount drug cards is available from CMS by calling 1-800-MEDICARE or visiting http://www.medicare.gov/.
On March 25, CMS selected Medco as a Medicare-approved prescription discount card sponsor. In addition to the co-marketing partnerships, Medco will market the Preferred Prescription Discount Card Program on a national basis, and will serve as the PBM administrator for several of its clients’ Medicare-approved discount card offerings.
About Medco
Medco Health Solutions, a leading pharmacy benefit manager with the nation’s largest mail order pharmacy operations, assists its customers to moderate the cost and enhance the quality of prescription drug benefits provided to members nationwide. Its customers include private- and public- sector employers and healthcare organizations. Medco is traded on the New York Stock Exchange under the symbol MHS. 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 which 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 presentation 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 Registration Statement on Form 10 filed with the Securities and Exchange Commission (SEC File No. 1-31312).
Medco Health Solutions
CONTACT: Jennifer Leone, Medco Health Solutions, +1-201-269-6402,Jennifer_Leone@medco.com; or Kevin Lamb or Amanda Naiman, Coyne PublicRelations, +1-973-316-1665, for Medco Health Solutions
Web site: http://www.medicare.gov/
Web site: http://www.medco.com/
