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Aetna and CVS/pharmacy Team up to Offer Co-Branded Medicare Prescription Drug Plan
Monday, October 3, 2011
HARTFORD, Conn., Oct 03, 2011 (BUSINESS WIRE) -- Aetna (NYSE: AET) and CVS/pharmacy today announced the launch of a new co-branded Medicare prescription drug plan. The new Aetna CVS/pharmacy Prescription Drug Plan (PDP) is available in 43 states and Washington, DC and offers Medicare beneficiaries outstanding value along with access to experienced CVS pharmacists and the convenience of shopping at their own neighborhood CVS/pharmacy.
The plan offers a $26 monthly plan premium and has no deductible for generic drugs. Medicare beneficiaries who sign up for this plan and fill their prescriptions at a CVS/pharmacy will realize savings on their out-of-pocket prescription drug costs. By filling prescription drugs at a CVS/pharmacy, as compared to a non-preferred network pharmacy, plan members will:
- pay a low $3 copayment for preferred generic prescriptions; and
- save $10 on copayments for non-preferred generic and preferred brand prescriptions.
"We are committed to providing value to our Medicare beneficiaries, and this new plan is not only affordable, it increases our members' access to one of the premier pharmacy chains in the United States," said John Chomeau, head of Aetna Medicare. "With 75 percent of the U.S. population in the markets in which CVS/pharmacy operates living within 3 miles of a CVS drugstore, Medicare beneficiaries will have convenient access to the prescription drugs they need through this plan."
"We are pleased to join with Aetna Medicare to offer Medicare beneficiaries a Part D plan that provides outstanding value along with the ease and convenience of filling their prescriptions at their neighborhood CVS/pharmacy," said Josh Flum, Senior Vice President, retail pharmacy, of CVS/pharmacy. "This plan allows members to build a relationship with their CVS pharmacist along with the opportunity to realize savings on their prescriptions."
In addition to the cost savings on prescription drugs, the plan offers members a number of other features when they fill their prescriptions at one of the more than 7,200 preferred CVS/pharmacy locations, including:
- 24-hour or extended-hour services and drive-thru pharmacy windows available at most CVS/pharmacy locations.
- The experience of trained pharmacists available to dispense prescriptions and helpful advice.
- Care 1on1TM pharmacist counseling
- The CVS/pharmacy ExtraCare Health Card, which entitles members to a discount on thousands of over-the-counter CVS/pharmacy brand health-related items.
In addition to CVS/pharmacy locations, members can continue to access any of the more than 65,000 pharmacies in the Aetna Medicare network.
How to Enroll in the Plan
Information on the new plan is available starting today. Annual enrollment for Medicare plans begins Oct. 15, 2011 and continues through Dec. 7, 2011.
Medicare beneficiaries can find more information and enroll in these plans by:
CVS/pharmacy, the retail division of CVS Caremark Corporation (NYSE: CVS), is America's leading retail pharmacy with more than 7,200 CVS/pharmacy and Longs Drug stores. CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at info.cvscaremark.com.
Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 36.5 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see http://www.aetna.com/index.html.