Aetna Medicare Expands Offerings: Part D Drug Plans To Be Available Nationwide; Regional PPO’s To Be Available In NJ, DE, MD And D.C.
HARTFORD, Conn., September 23, 2005 — Aetna (NYSE: ΑET) announced today that it is significantly expanding its Medicare offerings for 2006 to include benefit options in all 50 states and the District of Columbia. The company today received approvals from the Centers for Medicare & Medicaid Services (CMS) to be a national provider of the Medicare Part D prescription drug plans to both individuals and employer groups, and to offer regional Medicare PPO plans in two new regions – New Jersey and the region that includes Delaware, Maryland and the District of Columbia.
The new Medicare Part D plans, created as part of the Medicare Modernization Act, provide Medicare beneficiaries with an unprecedented level of coverage for their prescription drug costs beginning January 1, 2006. Aetna will offer three Part D prescription drug plans, one that offers the equivalent to standard Part D benefits and two enhanced options. Individual premiums for Aetna’s stand-alone Part D plans will range from $27 to $68 per month. Aetna also will have zero-premium plan options available that combine a Medicare Advantage plan with Medicare Part D coverage. Additional details about the plans will be available on October 1 when, in accordance with CMS guidelines, Aetna will begin actively marketing its plans.
"Today’s Medicare beneficiaries have more options than ever before for affordable medical and pharmaceutical coverage, and Aetna is pleased to play a leading role in this historic expansion," said Frank McCauley, head of Aetna Retiree Markets. "We’re working hard to offer Medicare plan options that provide value above and beyond the basic Medicare benefits. We back those options with dedicated quality management programs that meet the unique health needs of Medicare consumers, plan options with predictable out-of-pocket costs, and, through our in-house pharmacy organization, we offer access to a network of 54,000 pharmacies nationwide and the ease of one-stop shopping for both medical and pharmacy benefits in those areas where we offer Medicare Advantage plans."
With these enhancements, Aetna will offer plan options to Medicare beneficiaries in all 50 states and the District of Columbia as of January 1, 2006. This includes the nationwide availability of Part D plans in all 34 regions designated by CMS; Medicare Advantage HMO and PPO plans in 13 states and the District of Columbia; and regional Medicare PPO plans in three states and the District of Columbia. Between January of 2005 and January of 2006 Aetna will more than double the number of states in which it offers Medicare Advantage plans, from five states to 13 states and the District of Columbia.
Aetna is committed to helping Medicare consumers make well-informed decisions by providing clear information in the form they are most comfortable using – whether through one-on-one discussions with their local insurance agent, printed materials in the mail, a toll-free phone number, the Internet or other familiar resources.
"We fully realize that Medicare consumers will need support as they review their new options," said McCauley. "As we enter open enrollment, we are focusing our efforts on providing consumers with information and tools that will help them sort through their choices, understand what’s available, and choose the plan that works best for their specific situation."
Aetna has already announced strategic alliances with retail pharmacies Rite Aid Corporation and CVS Corporation, and Medicare supplement carrier Standard Life and Accident Insurance Company that will broaden the ways consumers can access information and, in some cases, purchase the Medicare prescription drug plans.
The Part D prescription drug plans will take effect January 1, 2006. Part D pharmacy benefits will be available through Aetna whether consumers enroll in an Aetna Medicare Advantage plan or receive their Medicare coverage solely through Original Medicare.
All of Aetna’s Medicare Advantage medical plans – both HMO and PPO – will be available with Part D prescription drug coverage in 2006. This means that members will only have to join one plan to receive the full benefits of the program. In addition, this integration of medical and prescription drug benefits will allow Aetna to provide even greater assistance to Medicare members and their physicians in helping to manage health conditions.
As one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 14.435 million medical members, 12.976 million dental members, 9.117 million pharmacy members and 13.662 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 684,000 health care professionals, including over 405,000 primary care and specialist doctors and 4,135 hospitals. For more information, please visit www.aetna.com. (Figures as of June 30, 2005)
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