BIRMINGHAM, Ala., Sept. 7 /PRNewswire-FirstCall/ -- Torchmark Corporation
(NYSE: TMK) announced today that its subsidiary United American Insurance
Company has received Medicare Part D Prescription Drug plans approval from the
Centers for Medicare and Medicaid Services (CMS). Plans were approved in all
regions of all states except Alaska and Hawaii, and United American will be
assigned a portion of certain subsidized Medicare beneficiaries in Arkansas
and Wisconsin. Medicare Part D plans can first be marketed in October 2005,
with enrollments beginning November 15. Coverage under the program begins
January 1, 2006.
United American has been a widely recognized writer of individual Medicare
supplement insurance for many years. While it is too early to predict how
many Medicare beneficiaries will join the Part D program, United American
plans to market the prescription drug product to its existing 300 thousand
Medicare supplement policyholders and to other Medicare beneficiaries through
its multiple distribution channels including exclusive agents, independent
agents/brokers and direct response.
Medco Health Solutions, Inc., one of the country's top pharmacy benefit
managers, will provide comprehensive pharmacy benefit management services to
United American's Part D enrollees. Medco is a leader in managing
prescription drug programs that are designed to drive down the cost of
pharmacy healthcare for private and public employers, health plans, labor
unions and government agencies of all sizes. Medco operates the nation's
largest mail-order and Internet pharmacies and has been recognized for setting
new industry benchmarks for pharmacy dispensing quality.
Torchmark Corporation is a holding company specializing in life and
supplemental health insurance for "middle income" Americans marketed through
multiple distribution channels including direct response, and exclusive and
independent agencies. Torchmark has several nationally recognized insurance
subsidiaries. Globe Life And Accident is a direct-response provider of life
insurance known for its administrative efficiencies. American Income Life
provides individual life insurance to labor union members. Liberty National
Life, one of the oldest traditional life insurers in the Southeast, is the
largest life insurer in its home state of Alabama. United American has been a
provider of Medicare supplement health insurance since 1966.
This press release may contain forward-looking statements within the
meaning of the federal securities laws. These prospective statements reflect
management's current expectations, but are not guarantees of future
performance. Accordingly, please refer to Torchmark's cautionary statement
regarding forward-looking statements, and the business environment in which
the Company operates, contained in the Company's Form 10-K for the period
ended December 31, 2004, and subsequent Forms 10-Q, on file with the
Securities and Exchange Commission, and on the Company's web site at
http://www.torchmarkcorp.com on the Investor Relations page. Torchmark
specifically disclaims any obligation to update or revise any forward-looking
statement because of new information, future developments or otherwise.
SOURCE Torchmark Corporation
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Related links:
http://www.torchmarkcorp.com
Company News On-Call:
http://www.prnewswire.com/comp/885425.html
CONTACT:
Joyce Lane, Vice President, Investor
Relations of Torchmark Corporation, +1-972-569-3627, or fax,
+1-972-569-3282, or jlane@torchmarkcorp.com
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