LOUISVILLE, Ky. and BENTONVILLE, Ark., Oct. 3, 2011 /PRNewswire/ --Humana Inc. (NYSE: HUM) announced today that the company will once again offer a Medicare Part D prescription-drug plan (PDP), co-branded with Wal-Mart Stores, Inc. (NYSE: WMT) to provide significant savings on monthly plan premiums, prescription medicine copayments and cost-shares for Medicare beneficiaries. Since its launch in 2010, more than one million seniors and people with disabilities have enrolled in the plan.
For 2012, the Humana Walmart-Preferred Rx Plan (PDP) offers one low monthly plan premium of $15.10 – according to the Centers for Medicare and Medicaid Services (CMS)(1), the lowest plan premium in 2012 for a stand-alone Medicare Part D plan offered in all 50 states and Washington D.C. In addition, copayments for preferred generic drugs from preferred pharmacies will be as low as $1 in 2012 (after deductible), down from $2 in 2011. Copayments are as low as $0 after deductible for prescriptions filled via Humana's RightSourceRx(SM) mail-order prescription service.
The co-branded prescription drug plan will help Medicare Part D beneficiaries who enroll in the plan get cost savings and convenience from the preferred pharmacy network* of more than 4,000 Walmart, Sam's Club, Walmart Neighborhood Market and Walmart Express retail pharmacies, and from Humana's RightSourceRx mail-order service.
"We are thrilled to continue making health care more affordable with the Humana Walmart-Preferred Rx Plan," said William Fleming, Pharm. D., vice president of Humana Pharmacy Solutions. "For 2012, we've made the plan even better by reducing the copayments for preferred generic drugs at preferred pharmacies to $1 after deductible. This Medicare Part D plan enables seniors and people with disabilities to better afford their medications – helping enrollees adhere to medication regimens, make healthy choices and achieve lifelong well-being."
Humana, one of the nation's most experienced Medicare companies, is looking forward to offering this favorably priced plan in 2012 to even more beneficiaries who rely on Medicare Part D for their prescriptions.
"We value affordability and are excited that our partnership with Humana can help Medicare beneficiaries get access to medications at a low cost," said John Agwunobi, M.D., president of Walmart's Health and Wellness division. "At a time when people are looking for ways to save money and live better, at Walmart we are committed to supporting seniors and people with disabilities on the journey toward a healthier life."
Humana Walmart-Preferred Rx Plan (PDP): Benefits and Details
- One low monthly premium – The plan premium is $15.10 a month for beneficiaries in all 50 states and Washington, D.C., regardless of where they live.
- According to CMS(1), the $15.10 monthly plan premium is the lowest premium in 2012 for a stand-alone Medicare Part D prescription drug plan offered in all 50 states and Washington, D.C.
- Low copayments when plan members use preferred pharmacies like Walmart, Sam's Club or Neighborhood Market pharmacies:
- In-store copayments on preferred generic prescriptions start as low as $1 after deductible when plan members use preferred pharmacies.
- Copayments as low as $0 after deductible for prescriptions filled via Humana's RightSourceRx mail-order prescription service
- A broad competitive formulary with more than 1,500 generic medications available. A list of prescription drugs included in the plan is available at humana-medicare.com.
- Save even more with mail order. Humana's RightSourceRx is the preferred mail-order pharmacy service for the Humana Walmart-Preferred Rx Plan (PDP). RightSourceRx offers:
- Significant cost savings – Members pay $0 copayments for Tier 1 and 2 prescriptions (after deductible) and get free standard delivery.
- Convenient mail-order delivery – With direct-to-their-door service, members don't need to leave home for their prescriptions.
The annual deductible for the Humana Walmart-Preferred Rx Plan (PDP) is $320 for 2012.
How to Enroll in the Plan: Call, Click or Go
Information on the plan is available starting today; annual enrollment for 2012 Medicare plans runs from October 15, 2011 – December 7, 2011. To get more information on the Humana Walmart-Preferred Rx Plan (PDP) and to learn more about these savings:
- Call Humana to enroll at 1-800-899-0441 (TTY: 711). Hours are 8 a.m. to 8 p.m., seven days a week.
- Click on humana-medicare.com or medicare.gov to enroll.
- Click on walmart.com/rxplan for additional plan details and links to enroll. Use the Plan Finder tool to compare all Medicare Part D plan options.
- Visit a select Walmart store to speak to a Humana representative.
- Informational kiosks, including many staffed by Humana representatives, are available in nearly 3,000 Walmart stores across the country. Medicare beneficiaries can click on "Find a Location Near You" at walmart.com/rxplan to locate an on-site Humana representative.
Medicare Part D Background
Medicare Part D is the prescription drug program supported by the federal government. According to the Kaiser Family Foundation, nearly 18 million people are currently enrolled in a stand-alone Part D plan and Families USA reports that seniors generate one-third of all prescriptions filled in the United States.
Humana Inc., headquartered in Louisville, Kentucky, is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships.
More information regarding Humana is available to investors via the Investor Relations page of the company's web site at www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases
- Replays of most recent earnings release conference calls
- Calendar of events (including upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
- Corporate Governance information
Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at more than 9,700 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://www.walmartstores.com and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.
(1) "Centers for Medicare & Medicaid Services." Click on "2012 Drug Plan Information - State Fact Sheets" under "Spotlights." September 2011. http://www.cms.gov/center/openenrollment.asp
*Other retail and mail-order pharmacies are available in the network. Medicare beneficiaries may pay more when filling prescriptions at non-preferred network pharmacies.