Medco Medicare Plan Options 2008

This came out a few months ago, but I am digging out while stuck in Philadelphia waiting for my 11pm flight which is delayed until 1am which means I should get to my hotel in Hartford almost 24 hours after I woke up this morning on the west coast.

On October 1^st, Medco unveiled their new plan which has three different options for seniors for Medicare Part D:

• Access plan – a $0 deductible plan with copays for chronic medications available for as little as $2 for a 30-day supply (when purchasing a 90-day supply of a generic medication via mail), and generics coverage in the coverage gap;
• Choice plan – which features a $0 deductible, $2 for a 30-day supply (when purchasing a 90-day supply of a generic medication via mail), and access to more than 3,400 prescription drugs;
• Value plan – a low premium plan with access to thousands of medications including generic, brand name and specialty drugs.

“We’ve asked seniors what they want from a drug plan and they responded with value, choice and access – so that is what we’re committed to providing.” David B. Snow Jr., Medco chairman and CEO

Medco also talks up their Therapeutic Resource Centers as a feature of the offering. These are pharmacies that are focused on one disease state such as diabetes, cancer, cardiovascular disease, and pulmonary conditions. The pharmacists receive special training in the chronic conditions and can help patients to really understand their disease and prescription options. They also offer Medicare Advisors which was a new offering that I hadn’t heard of. I am not sure if this is their MTM (medication therapy management) solution or another group, but the 24×7 access for consultation seems like a nice feature.

They do talk about one thing which I have been surprised not to hear more people talk about which is alerts to members when they approach the gap in coverage (aka the donut hole) where the seniors have to pay for the full costs of their medications. I am still waiting to see someone come up with a plan to minimize this cost (e.g., manufacturer’s covering the cost for the patient as long as they have been loyal to their brand drug prior to hitting the donut hole). More information about Medco’s plans is available at www.medcomedicare.com.