News
RxAmerica Serves Medicare Eligible
- Medicare Part D prescription drug plan sponsor in 35 states and the District of Columbia
- Bus tour begins November 15
- Pharmacy benefit management services
November 11, 2005 - SALT LAKE CITY, Utah – RxAmerica, a leading pharmacy benefit management (PBM) company, announced today that it has contracted with the federal Centers for Medicare & Medicaid Services (CMS) to participate in the Medicare Part D program, as a prescription drug plan sponsor, in 20 regions, covering 35 states and the District of Columbia. RxAmerica is a wholly owned subsidiary of Longs Drug Stores Corporation (NYSE - symbol LDG).
RxAmerica will provide prescription drug benefits to qualified individuals beginning January 1, 2006, in the following 35 states: Alabama, Arizona, California, Connecticut, Delaware, Georgia, Hawaii, Idaho, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, Texas, Tennessee, South Carolina, South Dakota, Vermont, Virginia, Utah, Washington, West Virginia, Wyoming and the District of Columbia.
Open enrollment for Medicare Part D plans begins across the country on November 15 and eligible individuals have until May 15, 2006 to join a plan without paying a penalty. In addition, RxAmerica has been assigned full benefit, dual eligible Medicaid and Medicare beneficiaries in select states.
Through a co-marketing effort with Longs Drug Stores, RxAmerica will be sponsoring a mobile education tour in California and Hawaii. The tour will make 212 stops in 140 cities between November 15 and December 15, 2005 to educate Medicare eligible beneficiaries about the new Medicare Part D program. Part of the campaign is to assist interested people in understanding the features of the RxAmerica plans and help them with the application process. Specific dates and locations for the tour are listed on www.meds4medicare.com.
RxAmerica is sponsoring three Medicare Part D Plans. The premiums will range from $27 to $36, depending on the plan design. For more information about each plan, interested individuals are encouraged to visit www.meds4medicare.com or call 1-877-279-0370. Hearing impaired can receive TTY/TDD access at 1-877-279-0371.
"RxAmerica has a wealth of experience in supporting managed Medicaid and other government programs," said John Gardynik, president of RxAmerica. "Since Medicare Part D is a new government program, RxAmerica has devoted extensive resources to gain expertise and become a valued resource to our clients and members.
"RxAmerica has a reputation for making sure that our incentives are aligned with our clients´ economic needs," Gardynik said. "In addition to our own plans, we have contracted to provide pharmacy benefit management services to a number of Medicare Advantage Prescription Drug (MA-PD) programs under the new Medicare drug benefit option."
In addition to offering the new Part D plan to Medicare recipients, RxAmerica will also provide network, formulary and claims processing services to companies and health plans wishing to comply with the new federal program. In many cases, this means RxAmerica will support its current clients in offering the prescription benefit as a stand alone or as part of a Medicare Advantage Plan.
Forward-Looking Statements - This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on RxAmerica´s current plans and expectations and involve risks and uncertainties that could cause actual events and results to vary materially from those included in or contemplated by such statements. Risks and uncertainties and other factors are detailed from time to time in RxAmerica´s media releases and in its parent company´s, Longs Drug Store Corporation, media releases and annual, quarterly and other reports filed with the Securities and Exchange Commission (SEC). Risks and uncertainties include among other things, risks of changing market conditions in the overall and regional economy, changes in consumer preferences and perceptions, and changes in applicable law or in the interpretation of applicable law by regulatory agencies. Please refer to such filings for a further discussion of these risks and uncertainties. Neither RxAmerica nor Longs Drug Stores Corporation undertake obligation to update any projections or other forward-looking statements to reflect events or circumstances that may arise after the date of this release.
About RxAmerica - RxAmerica, L.L.C. is a leading pharmacy benefit manager that specializes in controlling costs, creating customized solutions and delivering best-in-class service for its clients. RxAmerica has partnered with many large and successful managed care organizations to create a new trend in the industry – lowering prescription costs in a consistently inflationary environment. With its powerful online reporting tool, RxInsider™, RxAmerica delivers innovative and targeted programs that improve the health of members while lowering costs for health plans. For further information on RxAmerica, call 1-800-770-8014 or visit RxAmerica´s Web site at www.rxamerica.com.
RxAmerica provides prescription benefits for more than five million individuals nationally, through a retail network of more than 55,000 pharmacies and several state-of-the-art mail order facilities.
