Humana launches Medicare’s first individualized benefits summary
User-friendly SmartSummary Rx helps Medicare beneficiaries and their clinicians better understand and manage their prescription drug plan
LOUISVILLE, KY - Jan 17, 2006 - To help Medicare members better track, manage and save money on their prescription claims and benefits coverage, Humana Inc. (NYSE: HUM) has developed SmartSummary RxSM, the nation's first in-depth, monthly prescription benefits summary that is tailored specifically to individual Medicare members. As a companion to the SmartSummarySM program for commercial members, SmartSummary Rx provides Humana's Medicare enrollees with personalized guidance on cost-savings opportunities, a consolidated prescription claims record and valuable tools that can help budget for future health care and prescription spending.
SmartSummary Rx gives an enhanced level of control to each member by helping them track how much they've spent to date on prescription drugs. This is a valuable benefit because of Medicare's built-in coverage gap, also commonly known as the "doughnut hole." After a member's drug costs reach $2,250, a Medicare consumer in most cases will have to cover $2,850 in out-of-pocket costs before coverage resumes. The tracking feature, found only in SmartSummary Rx, allows beneficiaries to anticipate and better plan for future medication expenses.
"SmartSummary Rx is a revolutionary advancement unlike anything in the health benefits industry today," said Jonathan T. Lord, M.D., senior vice president and chief innovation officer of Humana. "We are constantly looking for ways to help consumers understand their health benefits and make better use of the health system. During an 18-month consumer research project, we discovered that traditional claims receipts - known as Explanations of Benefits, or EoBs - lack the clarity and personal relevance consumers need to feel confident in managing their health. We developed SmartSummary Rx to give members what they need to take more control of their personal health care experience."
Offering a significantly more comprehensive view of their prescription claims and health spending than the traditional EoB, which details only one claim at a time, the patent-pending SmartSummary Rx was developed with financial planning in mind. SmartSummary Rx consolidates health care cost details and plan information, while providing personalized messaging in one easily accessible and user-friendly document that aggregates information about medical events and their costs throughout the plan year.
SmartSummary Rx also includes a portable prescription record, which provides beneficiaries with all the details needed to accurately track their prescriptions, including dosage, previous refill dates, prescribing doctor and pharmacy information.
SmartSummary Rx provides tools for consumers to communicate effectively with their doctors and pharmacists about medications to help avoid potential harmful drug interactions. Because it is tailored to each individual, SmartSummary Rx even offers information about potential lower-cost medications that are covered by their plan, so the member and their clinician can together make educated choices about their care options.
"The primary principle guiding development of SmartSummary Rx was to provide breakthrough guidance to members in a way that is easy to understand, easy to use and immediately actionable," Dr. Lord said. "Through consumer research we discovered that people want help navigating the highly fragmented health care system that often includes confusing cost and care options. SmartSummary Rx was developed to give consumers a level of confidence and control they have never before experienced."
SmartSummary Rx statements will roll out monthly to Medicare beneficiaries starting in February 2006. Commercial SmartSummary statements have been developed for Humana's non-Medicare members and additional variations are in development for those with dental and financial accounts. SmartSummary Rx statements will be sent to each member as a paper-based document. For those who prefer electronic versions, all summaries can be accessed online through the member's personalized MyHumana.com site.
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