Retail News Breaks
RxAlly set to offer Medicare Part D plan
October 1st, 2012
CLEVELAND – RxAlly member pharmacies are slated to begin accepting a new federally qualified Medicare Part D prescription drug plan on Jan. 1.
Smart Insurance Company of Cleveland said Monday that it developed the prescription drug plan (PDP), called SmartD Rx, with the input of pharmacists.
The insurer noted that the RxAlly pharmacy alliance is one of the nation's largest preferred pharmacy networks, with more than 20,000 drug stores. The network includes thousands of independent pharmacies, the national drug chain Walgreen Co., and regional drug chains such as Bartell Drugs, Discount Drug Mart, Kerr Drug, Kinney Drugs, Lewis Drug, Navarro Discount Pharmacy and Thrifty White Pharmacy.
"RxAlly and its member pharmacies are ideally suited to partner with SmartD Rx to serve the prescription drug needs of Medicare beneficiaries," Bruce Roberts, chief executive officer of RxAlly, said in a statement.
Licensed plan representatives will be available to help consumers navigate their Medicare Part D options and provide on-the-spot answers to questions about Medicare PDPs. Plans to launch SmartD Rx and the RxAlly preferred pharmacy network were unveiled in early August.
SmartD Rx includes two plan options: SmartD Rx Saver and SmartD Rx Plus. Both offer seniors $0 co-payments for preferred generic drugs and lower co-pays for all medications at preferred network pharmacies.
Neither plan has a mail order option, but both offer a 90-day supply of medication at retail pharmacies with a discounted co-pay compared with a 30-day supply. Also, qualified seniors will be able to receive medication therapy management services from their community pharmacy.
SmartD Rx Plus offers additional options to minimize out-of-pocket costs and greater levels of coverage with no deductible for a higher premium. Other features include no annual deductible for SmartD Rx Plus and a $325 annual deductible for SmartD Rx Saver, and co-insurance fees calculated on a tiered system based on the type of drugs needed, ranging from $0 co-pay for preferred generics to 25% of the cost of the prescription for specialty drugs for complex or rare conditions.
"SmartD Rx is designed to meet the ever-changing needs of the current 48 million Medicare population segment and serve the 10,000-plus individuals in the U.S. population who turn 65 every day," stated Pritpal Virdee, CEO of Smart Insurance Co.
More Retail News Breaks >>