Humana to Expand Medicare Benefit Plans and Geographic
Humana's prescription drug plan premiums
Building on the success of its 2006 Medicare Advantage and Medicare prescription drug program plan offerings, Humana Inc. announced it has received approval from The Centers for Medicare & Medicaid Services (CMS) for a major expansion of its Medicare benefit plans and business relationships for 2007. When the open enrollment period for 2007 benefits begins Nov. 15, 2006, people eligible for Medicare will have access to a wider array of Humana's Medicare Advantage (MAPD) and prescription drug plans (PDP).
The expansion of plan offerings will include private fee for service (PFFS) plans that feature a combination of health benefits and prescription drug coverage for one premium. This will include a zero-premium plan in some areas.
America's 42 million Medicare beneficiaries in all 50 states, Puerto Rico and the District of Columbia may also choose from one of Humana's stand-alone Medicare Part D prescription drug plans with options that include generic drug coverage through the coverage gap in most areas. In 2006, Humana enrolled an estimated 3.5 million people with Medicare in a PDP benefit plan and, on average, these members will realize an annual savings of about $1,100 on their prescription drug costs, according to data published by CMS. Humana's Medicare Part D prescription drug plans in Florida were recently given the J.D. Power and Associates award as "Highest in Member Satisfaction Among Medicare D Plan Providers in Florida."
"For 2007, Humana's prescription drug plan premiums will once again be below the national benchmark in each region," said Stefen Brueckner, Humana's vice president for senior products. "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. With Humana's lower price/high value business proposition, consumers saved approximately $1.5 billion during the first six months of 2006. And, 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."