Substantial savings opportunity as $39.5 billion in popular brand name drugs will have generic equivalents for the first time in 2012 and 2013
ST. LOUIS, Oct. 8, 2012 /PRNewswire/ -- Express Scripts (NASDAQ: ESRX) today unveiled two Medicare Part D plans through its Express Scripts Medicare™ Prescription Drug Plan (PDP), formerly Medco Medicare Prescription Plan, to help America's seniors save money on prescription drug costs as generic versions of popular brand name drugs become available.
Enrollment for the 2013 plan year begins October 15, 2012 and ends December 7, 2012 with coverage beginning on January 1, 2013.
- The Express Scripts Medicare Choice plan features a $0 co-pay for Tier 1 generics from the Express Scripts Home Delivery Pharmacy beginning the first day of coverage through the Coverage Gap. In 2013, the Coverage Gap begins after a beneficiary reaches $2,970 in expenditures and ends when total annual out of pocket costs exceed $4,750.
- The Express Scripts Medicare Value plan features a low monthly premium and $4 preferred
(Tier 1) generics when prescriptions are filled within our network of pharmacies. And when using the home delivery pharmacy, the cost of a 90-day supply of a Tier 1 generic medication is under $3 a month.
Between 2012 and 2013, more than $39.5 billion in brand name drugs – including Cymbalta®, Celebrex® and Aciphex – will go generic. These three medications, in particular, are widely used by people over 65. Express Scripts' research finds that patients 65 and older enrolled in a Medicare Part D plan, versus those 65 and older enrolled in a traditional commercial plan, have higher use of generic drugs.
"The Express Scripts Medicare plan offers all the great benefits of the Medco Medicare Prescription Drug Plan that beneficiaries have come to count on," said Steve Miller, M.D., senior vice president and chief medical officer, Express Scripts. "In addition to offering the convenience, safety and cost savings of home delivery, we provide our beneficiaries a national network of pharmacies, and access to more than 3,000 covered prescription drugs."
Express Scripts Medicare Advisors and pharmacists are available 24 hours a day, 7 days a week to help lower costs, alert beneficiaries to the Coverage Gap and offer guidance on ways to delay reaching it. They also can help beneficiaries get the most from their medication. Since cost can be an issue when it comes to patients sticking with a prescription treatment regimen, Express Scripts Medicare Advisors will alert members when a cost-effective generic becomes available and work with their physicians to help determine if it's a viable alternative.
The Value plan is offered in all 50 states and the District of Columbia; the Choice plan is available in 30 states. Both plan options are available in Puerto Rico.
To learn more about the Express Scripts Medicare plan options and sign up for a free open enrollment email reminder, visit www.Express-ScriptsMedicare.com, or call toll-free 1-866-477-5704. TTY users should call 1-800-716-3231.
Express Scripts Medicare TM (PDP) is a Medicare-approved Part D sponsor.
The benefit information provided herein is a brief summary, not a comprehensive description of benefits. For more information, contact the plan. Limitations, copayments, and restrictions may apply. Benefits, formulary, pharmacy network, premium and/or co-payments/co-insurance may change on January 1 of each year.
About Express Scripts
Express Scripts (NASDAQ: ESRX) manages more than a billion prescriptions each year for tens of millions of people. On behalf of our clients -- employers, health plans, unions and government health programs -- we make the use of prescription drugs safer and more affordable. We innovate to enhance patient care, reduce pharmacy-related waste and increase therapy adherence. Building on a strong clinical foundation, we apply our understanding of the behavioral sciences -- an approach we call Consumerology® -- to make it easier for people to choose better health.
Headquartered in St. Louis, Express Scripts provides integrated pharmacy benefit management services, including network-pharmacy claims processing, home delivery, specialty benefit management, benefit-design consultation, drug-utilization review, formulary management, and medical and drug data analysis services. The company also distributes a full range of biopharmaceutical products and provides extensive cost-management and patient-care services.
SOURCE Express Scripts