Published: September 30, 2010
Humana and Walmart Announce Innovative Medicare Part D Prescription Drug Plan with Lowest National Monthly Premium Offered in all 50 States and D.C.1
LOUISVILLE, Ky. & BENTONVILLE, Ark. - (BUSINESS WIRE) - Today, Humana Inc. (NYSE: HUM) announced an innovative Medicare Part D
prescription drug plan, co-branded with Wal-Mart Stores, Inc. (NYSE:
WMT) or ("Walmart" ), that can provide significant savings on monthly
plan premiums and prescription medicine copayments and cost-shares for
Medicare beneficiaries, including seniors and people with disabilities.
The Humana Walmart-Preferred Rx Plan (PDP) offers one low
national monthly plan premium of $14.80 - according to CMS,1
the lowest national plan premium in 2011 for a standalone Medicare Part
D plan premium offered in all 50 states and Washington, D.C. This new
co-branded prescription drug plan can save a typical Medicare Part D
beneficiary who enrolls in the Humana Walmart-Preferred Rx Plan (PDP) an
estimated average of more than $4502 in 2011 on plan premiums
and prescription medication copayments and cost-shares when compared
with the average total costs for a Part D prescription drug plan in
2010. With nearly 18 million Americans relying on Medicare Part D for
their prescriptions,3 the Humana Walmart-Preferred Rx Plan
(PDP) provides an affordable prescription solution for those who need it
most.
"One of the primary goals of health care reform is to make health
coverage more affordable - and that's what we're doing with the
introduction of this low-cost Medicare Part D plan," said William
Fleming, PharmD, vice president of Humana Pharmacy Solutions.
"People are more likely to take the medications prescribed for them when
they can afford those medications. And adhering to prescription-drug
regimens can enable people to be healthier and prevent future illness.
At Humana, we believe that this prevention helps people live healthier
lives and achieve lifelong well-being."
"We know every dollar counts, especially when you live on a fixed
income. We believe no one should have to choose between buying their
groceries or their medications," said John Agwunobi, M.D.,
president of Walmart's Health and Wellness division. "Financial health
is a fundamental part of a person's well-being. At Walmart, the customer
is always front and center, and that is why we are committed to doing
everything we can to ensure seniors have access to the medications they
need at a price they can afford."
Humana Walmart-Preferred Rx Plan (PDP):
Benefits and Details
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One low monthly rate nationwide. The monthly plan premium is
less than $15 a month for everyone, regardless of where they live.
-
According to CMS, the $14.80 monthly plan premium is the lowest
national plan premium in 2011 for a standalone Medicare Part D
prescription drug plan offered in all 50 states and Washington,
D.C.1
-
The Humana Walmart-Preferred Rx Plan (PDP) offers a monthly plan
premium of $14.80, which is less than half the weighted 2010
national average for Medicare Part D prescription drug plans'
monthly plan premiums.4
-
Low copayments when plan members use preferred pharmacies like
Walmart, Neighborhood Market or Sam's Club pharmacies:
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In-store copayments (at preferred pharmacies) on generic
prescriptions start as low as $2 when plan members use preferred
pharmacies.
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Copayments as low as $0 for generic prescriptions filled via
Humana's RightSource home-delivery prescription service.
-
A broad competitive formulary comparable to other plans, with a
list of prescription drugs included in the plan available at
humana-medicare.com.
How to Enroll in the Plan: Call, Click or Go
Information on the plan is available starting today; annual enrollment
for Medicare plans begins Monday, Nov. 15, 2010, and continues through
Dec. 31, 2010. 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. For TTY, call 711, 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 or samsclub.com/rxplan for additional plan
details and links to enroll.
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Visit a Walmart store to speak to a Humana representative.
-
Informational kiosks, including many staffed by Humana
representatives, are available in approximately 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 standalone Part D plan3
and Families USA reports that seniors generate one-third of all
prescriptions filled in the United States.5
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the
nation's largest publicly traded health and supplemental benefits
companies, with approximately 10.3 million medical members and
approximately 7.3 million specialty-benefit members.
Humana is a full-service benefits-solutions company, offering a wide
array of health and supplementary benefit plans for employer groups,
government programs and individuals.
Over its 49-year history, Humana has consistently seized opportunities
to meet changing customer needs. Today, the company is a leader in
consumer engagement, providing guidance that leads to lower costs and a
better health plan experience throughout its diversified customer
portfolio.
More information regarding Humana is available to investors via the
Investor Relations page of the company's Web site at http://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 (includes upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors)
-
Corporate Governance Information
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT), or "Walmart," serves customers and
members more than 200 million times per week at more than 8,400 retail
units under 55 different banners in 15 countries. With fiscal year 2010
sales of $405 billion, Walmart employs more than 2 million associates
worldwide. A leader in sustainability, corporate philanthropy and
employment opportunity, Walmart ranked first among retailers in Fortune
Magazine's 2010 Most Admired Companies survey. Additional information
about Walmart can be found by visiting www.walmartstores.com
and on Twitter at http://Twitter.com/Walmartnews.
Online merchandise sales are available at www.walmart.com
and www.samsclub.com.
Editor's Note: B-roll containing
store, customer and product images can be accessed via the online
newsrooms at walmartstores.com/RxPlan and humana.com or at the satellite
time below:
Satellite Schedule/Coordinates for B-roll
Package:
Friday, October 1, 2010
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Schedule:
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6:00 a.m. - 6:15 a.m. Central
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6:30 a.m. - 6:45 a.m. Central
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7:00 a.m. - 7:15 a.m. Central
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7:30 a.m. - 7:45 a.m. Central
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10:00 a.m. - 10:15 a.m. Central
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3:00 p.m. - 3:15 p.m. Central
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Coordinates
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Galaxy 18 (Digital KU)
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Transponder 20A
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D/L: 12086.5(H)
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FEC: 2/3
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Symbol: 6.62
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Bit Rate: 8.144
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References
1 "Centers for Medicare & Medicaid Services." Click on the
"2011 Drug Plan Information - State Fact Sheets" under "Spotlights."
September 2010. http://www.cms.gov/center/openenrollment.asp
2 Savings estimate is based on a comparison between 1) the
projected average nationwide out-of-pocket costs for the 2011 benefit
year for the average Medicare beneficiary who enrolls in the Humana
Walmart-Preferred Rx Plan (PDP) and fills their prescriptions in-store
at preferred pharmacies like Walmart, Sam's Club, and Neighborhood
Market pharmacies, and 2) the projected average nationwide out-of-pocket
costs for the 2010 benefit year for the average Medicare beneficiary.
Calculations based in part on industry average PDP premium and benefit
information from the "Medicare Part D 2010 Spotlight, Medicare
Prescription Drug Plans in 2010 and Key Changes over Five Years" , an
independent review and analysis of CMS data by the Kaiser Family
Foundation (September 2010). Actual savings may vary. For some
beneficiaries, actual out-of-pocket costs may be more. Savings estimate
may be updated when 2011 benefit year data becomes publicly available.
3 "The Henry J. Kaiser Family Foundation." Medicare: A
Primer. Chart: Prescription Drug Coverage Among Medicare
Beneficiaries, 2010, Page 8. April 2010. http://www.kff.org/medicare/upload/7615-03.pdf
4 "The Henry J. Kaiser Family Foundation." Medicare Part D
2010 Data Spotlight. Chart: Exhibit 2: Weighted Monthly PDP
Premiums, 2006-2010, Page 9. September 2010. http://www.kff.org/medicare/8096.cfm
5 "Families USA." Cost Overdose: Growth in Drug Spending
for the Elderly, 1992 - 2010; Figure 1: Seniors Consume a
Disproportionate Share of Drug Expenses, Page 2. July 2000.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6451258&lang=en
Humana Inc.
Media Contact:
Jim Turner,
502-608-2897
or
Wal-Mart Stores, Inc.
Media
Hotline:
1-800-331-0085
walmartstores.com/reporter
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