Aetna and Costco team up
TweetAetna Medicare and Costco have teamed up to offer a Medicare prescription drug plan, Aetna Medicare Rx- Costco Plus plan. Not only does this give Medicare members access to one of Costco’s hundreds of U.S. pharmacies, but also to more than 59,000 Aetna network pharmacies nationwide. As of right now, The Aetna Medicare Rx- Costco Plus plan is available in Arkansas, Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Michigan, New Mexico, Nevada, New York, Ohio, Oregon, Utah, Virginia, and Washington.
Anyone who is eligible for Medicare Part A and/or Medicare Part B is eligible to join the Aetna Medicare Rx- Costco Plus plan if the service is available in their state. The Aetna Medicare Rx- Costco Plus plan benefits include $0 deductible and $0 preferred generic prescription drug co-pay. The plan premiums range from $50 to $70 a month, depending on the region. It also provides coverage for all Medicare-approved Part D prescription drugs and coverage for preferred generic prescription drugs in the “coverage gap.” Save at Costco pharmacies on prescription drugs and get enhanced coverage for generic benzodiazepines and barbiturates, prescriptions that are not covered by Medicare Part D. Maximum co-pays for generic prescription drugs filled at Costco are $5, if nothing at all.
The difference between original Medicare plans and the Aetna Medicare Rx- Costco Plus plan is that most drugs are not covered under original Medicare. The Aetna Medicare Rx- Costco Plus plan uses a formulary which is a list of drugs covered by your plan to meet patient needs.
Information on the plans are available on the Costco website (www.costco.com) , in the Costco Connection member magazine, and in-warehouse displays and literature on the plans. These materials are available to help educate Costco members on the new product. To enroll in these plans, you can use the Aetna website, Costco website, or over the phone with Aetna and Costco sales representatives.
‘”Aetna is committed to finding cost-effective solutions through all of our Medicare plans,” said Frank McCauley, head of Aetna’s Consumer Business Segment. “Teaming up with Costco, which is known for providing great value to its customers, gives us a great opportunity to reach a significant number of Medicare beneficiaries with an innovative prescription drug plan.”
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A few additional points for Medicare Beneficiaries – Many states have Pharmaceutical Assistance Programs (SPAP) with income limits higher than those of Medicaid. These are state programs and enrollment is not via the Social Security Administration. Check with your state website for details.