FRANKLIN LAKES, N.J., April 6 /PRNewswire/ -- Medco Health Solutions
(NYSE: MHS) 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 (Nasdaq: AAME)), Health Alliance
Plan, FirstCarolinaCare, Inc., Medical Mutual of Ohio, Nationwide Health
Plans, NeighborCare, Inc. (Nasdaq: NCRX), Oxford Health Plans, Inc.
(NYSE: OHP), 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).
CONTACT:
Jennifer Leone Kevin Lamb
Medco Health Solutions Amanda Naiman
(201) 269-6402 Coyne Public Relations
Jennifer_Leone@medco.com (973) 316-1665
SOURCE Oxford Health Plans, Inc.
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