WOONSOCKET, R.I., July 6 /PRNewswire-FirstCall/ -- CVS Corporation (NYSE: CVS), parent of America's largest retail drugstore, CVS/pharmacy, announced today that the company will partner with UnitedHealth Group (NYSE: UNH) to help Medicare beneficiaries understand how the new Medicare prescription drug program (Part D) can provide significant savings on prescription medications.
"Our mission is to make it easier for Medicare beneficiaries to understand the new Medicare prescription drug program and how to use the benefit most effectively. UnitedHealth Group shares our commitment and will be a key ally in our effort to provide Medicare beneficiaries with educational materials that are consumer friendly and easy to use," said Tom Ryan, Chairman, President and CEO of CVS Corporation.
In addition to its work with UnitedHealth Group on education and community outreach efforts, CVS, through its CVS/pharmacy stores and its PharmaCare subsidiary mail-order facilities, will provide prescription services to UnitedHealth Medicare plan participants. Earlier this year UnitedHealth Group, through its Ovations business segment, announced that the company would provide Part D offerings in all 50 states, the District of Columbia and U.S. territories. Medicare beneficiaries who receive Part D drug coverage through UnitedHealth Group will be able to maintain 30 and 90-day prescriptions through CVS.
"We appreciate the opportunity to work with CVS," commented Tom Paul, President of Ovations Pharmacy Solutions. "The company has an outstanding reputation for quality and customer service and offers the largest network of retail drugstores in the nation. We recognize the important role that community pharmacies will play in helping consumers understand the new Medicare drug benefit."
Ovations is the largest U.S. business dedicated to serving the health and well-being needs of people age 50 and older. It is the only company that participates in the Medicare program on a national basis, and across the full spectrum of Medicare products. Ovations provides Medicare Advantage products, Medicare supplement insurance, hospital indemnity coverage, pharmacy services and individualized care services for elderly, vulnerable and chronically ill individuals.
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealth, Ovations, AmeriChoice, Uniprise, Specialized Care Services and Ingenix. Through its family of businesses, UnitedHealth Group serves approximately 55 million individuals nationwide.