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Nine Organizations Decide to Offer Medco's Medicare-Approved Discount Card Program Franklyn Lakes, NJ -- April 6, 2004 Medco Health Solutions (NYSE: MHS) today announced that nine of its clients have decided to co-brand Medco's Medicare-approved prescription discount card program. Medco is one of 28 Medicare-approved prescription discount card sponsors. As part of the co-branding partnerships, Bankers Fidelity Life (a subsidiary of Atlantic American Corporation; NASDAQ: AAME), Health Alliance Plan, FirstCarolinaCare, Inc., Medical Mutual of Ohio, Nationwide Health Plans, NeighborCare, Inc. (NASDAQ: NCRX), Oxford Health Plans, Inc., The Health Plan of the Upper Ohio Valley, Inc., and WPS Health Insurance will offer Medco's Medicare-approved prescription discount card to their customers and other Medicare beneficiaries in their respective markets. "These partnerships can provide Medicare beneficiaries with cost savings and clinically oriented programs designed for the unique issues confronted by seniors," said John Driscoll, senior vice president, Medco. "Together we can leverage our partners' familiarity and experience in the marketplace, with Medco's size, scale and clinical expertise to offer a meaningful prescription drug benefit." The co-branded prescription discount cards will provide Medicare beneficiaries with access to discounts ranging up to 30 percent or more on virtually all branded and generic prescription medications on the list of drugs the Centers for Medicare and Medicaid Services (CMS) has approved as eligible for coverage. In addition, Medicare beneficiaries will have access to:
Registration for the co-branded prescription discount cards will begin on May 3. Medicare beneficiaries can enroll by mail, though Medco's toll-free hotline, or online at www.medco.com. Additional information about Medicare-approved discount drug cards is available from CMS by calling 1-800-MEDICARE or visiting www.medicare.gov. On March 25, CMS selected Medco as a Medicare-approved prescription discount card sponsor. In addition to the co-marketing partnerships, Medco will market the Preferred Prescription Discount Card Program on a national basis, and will serve as the PBM administrator for several of its clients' Medicare-approved discount card offerings. About Medco Medco Health Solutions, a leading pharmacy benefit manager with the nation's largest mail order pharmacy operations, assists its customers to moderate the cost and enhance the quality of prescription drug benefits provided to members nationwide. Its customers include private- and public-sector employers and healthcare organizations. Medco is traded on the New York Stock Exchange under the symbol MHS. On the Net: www.medco.com. Contacts:
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties which may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this presentation should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Registration Statement on Form 10 filed with the Securities and Exchange Commission (SEC File No. 1-31312). |
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