Humana launches Medicare Advantage private-fee-for-service health plan and prescription drug plans for Medicare beneficiaries in Hawaii
Medicare Advantage private-fee-for-service plan focuses on value, prescription drug benefits
HONOLULU, HI - Dec 7, 2006 - Medicare beneficiaries in Hawaii now have more options for reducing out-of-pocket health care costs following the launch of a Medicare Advantage private-fee-for-service (PFFS) health plan and three Medicare Part D prescription drug plan options from Humana Inc. (NYSE: HUM).
Humana's Medicare PFFS plan features a combination of health benefits and prescription drug coverage for one premium while Humana's three stand-alone Medicare Part D prescription drug plans offer access to affordable pharmaceutical care including one that provides preferred generic drug coverage through the coverage gap.
The PFFS health plan from Humana is an affordable alternative to traditional Medicare or supplemental health plan. Seniors who enroll in the Humana Gold Choice PFFS will have the freedom to see any physician or hospital statewide without the restrictions of a network or referral as long as the provider accepts Medicare assignment and Humana's terms and conditions. Those thinking of enrolling in the Humana Gold Choice PFFS plan should check with their health care provider to determine if that provider accepts Medicare and Humana's terms and conditions.
The Humana Gold Choice PFFS includes low co-payments, an annual out-of-pocket maximum, worldwide emergency care and urgent care coverage. "We are pleased to be the bearer of such good news for Medicare beneficiaries in Hawaii," said Debbie Smith, regional president of Senior Products for Humana. "Our plan has been designed specifically for the Medicare beneficiary who is on a fixed income and wants an alternative to the high monthly premiums associated with a Medicare supplement."
The annual open enrollment period for people eligible for Medicare to join a Medicare Advantage health plan or Medicare Part D prescription drug plan for 2007 benefits began November 15, 2006 and ends December 31, 2006.
"As alternatives to traditional Medicare and supplemental plans, Humana's private-fee-for-service plan offers more than just affordability," said Smith. "Humana's industry-leading disease management programs and case-management services are empowering members to be better health care consumers. Providing information to help consumers make informed decisions is crucial to having a meaningful and successful relationship between people with Medicare and their health benefits carrier."
Humana's Medicare prescription drug plans include three options - a Standard Plan, an Enhanced Plan and the Complete Plan.
The Medicare Part D Benefit is designed to lower prescription drug costs and help protect against high out-of-pocket costs. Enrollment is voluntary for Medicare recipients. In 2006, Humana enrolled an estimated 3.5 million people with Medicare in a PDP benefit plan and, on average, these members realized an annual savings of about $1,100 on their prescription drug costs, according to data published by The Centers for Medicare & Medicaid Services (CMS).
"The Medicare Part D prescription drug plan will provide access to a broad selection of affordable pharmaceutical care to Medicare beneficiaries in Hawaii," said Smith. "It is especially significant to the more than 12 million Medicare beneficiaries living in areas of the nation where access to affordable health care insurance may not have been available until now," she added.
"For 2007, Humana prescription drug plan premiums will once again be below the national benchmark in each region," said Smith. "By pricing our plans appropriately in 2006, Humana was able to move the marketplace to a lower overall premium average for 2007, according to statistics released by CMS. Because of Humana's leadership position and the results of private market economics, it is estimated that taxpayers will save about $3.2 billion this year and $40 billion over the next ten years."
Humana - Consumer Action survey
The popularity of the Medicare Part D prescription drug plan has been validated through a recent national survey of 1,000 Medicare enrollees and their caregivers. Conducted by Humana and the consumer advocacy group Consumer Action, the survey found that two-thirds of respondents said they are saving money on prescription drugs through their new Medicare PDP. Nearly 90 percent say they are happy with their plan and don't anticipate changing plans in 2007. Additionally, 75 percent said they had a somewhat or very positive experience with their Medicare Part D program.
In response to the need for increased, easy-to-understand information, Humana has developed a series of consumer-focused education tools. One such tool is SmartSummaryRxsm , the industry's first comprehensive, personalized record of Medicare members' prescriptions, what they paid for those prescriptions and guidance on how they might save money in the future.
Many of the Humana-Consumer Action results closely mirror those recently announced in a survey by America's Health Insurance Plans (AHIP). That poll showed 70 percent of self-enrolled seniors would recommend that others sign up for the Medicare Part D prescription drug benefit. The survey also revealed that two-thirds of seniors surveyed think enacting a Medicare prescription drug plan was a good idea.
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