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HARTFORD, Conn., November 03, 2008 — Aetna (NYSE: AET) announced today that it has formed a unique alliance with Costco to help consumers access an affordable and comprehensive Medicare prescription drug plan. Medicare beneficiaries now have the ability to purchase the new Aetna Medicare Rx - Costco Plus Plan, which is available in 17 states (Alaska, Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Michigan, Nevada, New Mexico, New York, Ohio, Oregon, Utah, Virginia and Washington)
The plan premiums range from $50-$70 a month, depending upon the region. In addition, there is no deductible. Consumers who sign up for this plan and have their prescriptions filled at Costco will also have a maximum co-pay of $5 for generic prescription drugs ($10 if filled at other network pharmacies), and in some cases will have no co-pay for generics.
"Aetna is committed to finding cost-effective solutions through all of our Medicare plans," said Frank McCauley, head of Aetna's Consumer Business Segment. "Teaming up with Costco, which is known for providing great value to its customers, gives us a great opportunity to reach a significant number of Medicare beneficiaries with an innovative prescription drug plan."
Working together, Aetna and Costco have developed materials to help educate Costco members on this new product. Information on these new plans can be found through a number of different resources, including:
In addition, Medicare beneficiaries will have multiple options for enrolling in the plans, including the program website or over the phone with Aetna and Costco sales representatives.
"At Costco, our members expect us to deliver better value on the things they need. By teaming up with Aetna, one of the most respected names in healthcare, we believe we have delivered on that expectation," said John Conlon, Director, Costco Services. "Our members should find the Aetna Medicare Rx-Costco Plus Plan to be a great value in Medicare Part D, especially when filling their prescriptions at Costco pharmacies."
About Costco
Costco Wholesale Corporation operates an international chain of Costco membership warehouses that carry quality, name-brand and related private-label merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. Costco currently operates 545 warehouses: 400 in the United States and Puerto Rico, 75 in Canada, 17 in England, three in Scotland, six in South Korea, five in Taiwan, eight in Japan and 31 warehouses in Mexico with a joint venture partner. Costco also operates Costco Online, an electronic commerce Web site at costco.com.
About Aetna
Aetna is one of the nation's leading diversified healthcare benefits companies, serving approximately 37.2 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional 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. www.aetna.com
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