CVS/pharmacy Renews Its Commitment to Seniors

Friday, October 20, 2006

Chairman, President and CEO of CVS participates in President Bush's Medicare Part D roundtable

WOONSOCKET, R.I., Oct. 20 /PRNewswire-FirstCall/ -- Tom Ryan, Chairman, President and CEO of CVS Corporation (NYSE: CVS) and CVS pharmacist Karen Smith today participated in a roundtable discussion moderated by President George W. Bush on the Medicare Part D prescription drug benefit. President Bush discussed with roundtable participants how Medicare has helped make prescription medication more affordable for seniors.

The roundtable discussion was held at the office of the Department of Health and Human Services in Washington, D.C. Following the discussion, President Bush accompanied Mr. Ryan and Ms. Smith to a CVS/pharmacy located on nearby Vermont Avenue to review the educational and informational Medicare material that CVS has available to customers as part of its outreach for the 2007 Open Enrollment period, beginning November 15th.

"Our vision at CVS is to help people live longer, healthier, happier lives. As part of the rollout of Medicare Part D, more than 20,000 of our highly trained pharmacists have helped millions of customers get the right drugs at an affordable price," said Ryan. "The generic co-pay for Medicare prescription drug plans is typically around $5, and we are committed to promoting generic utilization and encouraging all Medicare-eligible customers who do not have prescription drug coverage to consider enrolling in a Medicare Part D plan.

"We have seen greater compliance by seniors with their prescription therapies since Medicare Part D was implemented. As the new enrollment period approaches, we look forward to helping to reduce the cost of medications for even more seniors by educating them about the benefits of Medicare Part D coverage this fall," said Ryan.

CVS/pharmacy, which accepts all Medicare Part D plans, has trained more than 20,000 pharmacists and managers over the past year to make them the most capable Medicare advisors in the community and they have been preparing for 2007 Open Enrollment since August.

Outreach efforts by CVS/pharmacy during Open Enrollment will include:

  • The return of Medicare Tuesdays, which are information sessions being held in every CVS/pharmacy each Tuesday from November 7th to December 19th. Medicare experts will be available to offer seniors personalized advice. More than 1 million seniors attended Medicare Tuesday events during the last open enrollment period.
  • Medicare Information Kiosks in all CVS/pharmacy locations that include a 2007 CVS Plan Decision Guide, brochures from national and local plan providers, information about the "Extra Help" program from the Social Security Administration, and a list of all Medicare Part D plans available in the state.
  • CVS pharmacists will place phone calls to more than 600,000 seniors to encourage them to take advantage of Medicare Part D and Social Security's "Extra Help" benefits.
  • CVS pharmacy staff will conduct education seminars at more than 1,500 senior centers around the country. During the last open enrollment, more than 250,000 seniors attended CVS/pharmacy seminars.
  • CVS pharmacy staff will visit more than 2,100 physician's offices around the country to provide Medicare information and resources.