New Medicare prescription drug plan will provide beneficiaries with
prescription drug benefit option, convenient access to pharmacies
LOUISVILLE, Ky., March 23 /PRNewswire/ -- Humana Inc. (NYSE: HUM)
announced today that it has filed applications with the Centers for Medicare &
Medicaid Services (CMS) to participate in the Part D Drug Benefit Program
which becomes effective January 1, 2006. This filing represents the next step
in a series of procedures before the CMS-approved plans take effect next
January.
The new Part D drug benefit will allow Medicare beneficiaries access to
prescription drug benefits regardless of the health benefits option they have
chosen. Medicare beneficiaries can choose to stay enrolled in traditional
Medicare and sign up for the new Part D prescription drug plan, or join (or
continue in) a Medicare Advantage HMO, PPO or private fee-for-service plan
that already provides pharmacy benefits. Humana will offer a stand-alone Part
D drug benefit plan in up to 31 of the program's 34 regions throughout the
United States.
In addition, the company announced that it will also participate as a
provider for the newly created Medicare Advantage regional PPO plan in up to
16 of that program's 26 regions.
Both the Part D prescription drug program and regional PPOs were created
as part of the Medicare Modernization Act of 2003.
"As an experienced provider of health benefits for America's seniors,
Humana is pleased to commit to being part of this exciting next step in
meeting the health needs of this growing population," said Steve Brueckner,
Humana's vice president for senior products.
Humana will offer the new Medicare Part D drug benefit as part of its
ongoing commitment to providing an array of health benefit solutions designed
to meet the diverse needs of America's 42 million Medicare beneficiaries.
Enrollment for the new prescription drug plans will begin this November.
Humana offers Medicare Advantage HMO, PPO, and Private Fee-for-Service
(PFFS) plans in 19 states. More than 427,000 Medicare beneficiaries are
currently enrolled in a Humana Medicare Advantage plan. This type of health
plan is an alternative to original Medicare and is a direct result of the
Balanced Budget Act of 1997 and the Medicare Modernization Act of 2003. Humana
Medicare Advantage plans may include a prescription drug benefit, limits on
out-of-pocket expenses, and worldwide coverage for emergency care and urgently
needed care.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's
largest publicly traded health benefits companies, with approximately 7
million medical members located primarily in 15 states and Puerto Rico.
Humana offers a diversified portfolio of health insurance products and related
services - through traditional and consumer-choice plans - to employer groups,
government-sponsored plans, and individuals.
Over its 44-year history, Humana has consistently seized opportunities to
meet changing customer needs. Today, the company is a leader in consumer
engagement, providing guidance that leads to lower costs and a better health
plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the
Investor Relations page of the company's web site at http://www.humana.com ,
including copies of:
- Annual report to stockholders;
- Securities and Exchange Commission filings;
- Most recent investor conference presentation;
- Quarterly earnings press releases;
- Audio archive of most recent earnings release conference call;
- Calendar of events (includes upcoming earnings conference call dates,
times, and access number, as well as planned interaction with
institutional investors);
- Corporate Governance Information.
SOURCE Humana Inc.
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http://www.humana.com
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CONTACT:
Barbara Kerr of Humana Corporate
Communications, +1-305-626-5736, or bkerr@humana.com
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