CVS/pharmacy, Aetna to Offer Co-Branded Prescription Drug Plan
CVS/pharmacy and Aetna announced they are teaming up to co-brand a new Medicare prescription drug plan, following in the footsteps of other health insurers who have partnered with big drugstores, The Wall Street Journal reports.
The Aetna CVS/pharmacy Prescription Drug Plan will be available in 43 states and Washington, D.C., for those using the federal health insurance for seniors. Seniors may use the plan at 7,200 CVS/pharmacy locations and more than 65,000 pharmacies in Aetna's Medicare network.
The plan features a $26 monthly premium, with no deductible, for generic drugs. According to CVS/pharmacy and Aetna, the plan would help lower co-payments for its users.
The agreement extends recent joint programs between CVS and Aetna. Last year, CVS entered into a 12-year deal with Aetna to provide benefits management for Aetna's nearly 10 million members.
Meanwhile, peer Humana Inc. has partnered with Wal-Mart Stores Inc., while Coventry Health Care Inc. has deals with Wal-Mart, Target Corp. and Walgreen Co.