Blue Cross and Blue Shield of Texas Urges Medicare Beneficiaries To Enroll Early in Medicare's New Prescription Drug Coverage
Beneficiaries encouraged to select a prescription drug plan to manage pharmacy costs and avoid late enrollment penalties
(RICHARDSON, Texas) - November 15, 2005 - As the enrollment period for the new Medicare prescription drug program (also known as Part D) officially begins today, Blue Cross and Blue Shield of Texas (BCBSTX) is encouraging all Medicare beneficiaries to fully explore their options in the program and select a prescription drug plan that helps them more effectively manage their drug costs.
Medicare's new prescription drug coverage begins as soon as January 1, 2006, with an initial enrollment period from November 15, 2005 through May 15, 2006. Beneficiaries are encouraged to select a prescription drug plan and enroll early to avoid late enrollment penalties. For each month that an eligible beneficiary chooses to delay enrollment past the initial period, a 1% per month government-imposed penalty may be added to the cost of their monthly premium.
“As a leading provider of health insurance for residents of Texas, Blue Cross and Blue Shield is committed to helping seniors and other beneficiaries navigate the Part D selection and enrollment process,” said Nancy Donaldson, vice president, Strategic Medicare Business Development, BCBSTX. “Beneficiaries and their caregivers can trust Blue Cross and Blue Shield to provide direction and valuable information about Medicare's new prescription drug benefit, which offers beneficiaries a great opportunity to manage their prescription drug costs both now and in the future.”
Last month, BCBSTX announced three innovative Blue MedicareRxSM prescription drug plans designed to provide a range of options to Medicare beneficiaries. These plans offer an extensive formulary and a broad pharmacy network, with more than 3,600 network pharmacies in Texas and more than 50,000 nationwide.
BCBSTX is committed to making the plans easy to understand, easy on the budget, and easy to use. As part of these efforts, BCBSTX will conduct educational seminars statewide to help beneficiaries and their caregivers better understand the new drug coverage.
“Comparing and selecting a Medicare prescription drug plan can be overwhelming for beneficiaries and their caregivers,” said Donaldson. “As a trusted name, Blue Cross and Blue Shield wants to help make the new benefit easier to understand by educating beneficiaries about their new options for coverage and enrollment guidelines. We would also like to remind beneficiaries to select a plan based on their current and projected future prescription drug usage, and to compare each plan's formulary and pharmacy network.”
Key dates for Medicare beneficiaries to know are as follows:
- November 15, 2005: Initial enrollment begins
Medicare beneficiaries should enroll in their Medicare prescription drug plan of choice.
- January 1, 2006: Coverage becomes effective
Prescription drug coverage becomes effective on January 1, 2006 for beneficiaries who enroll prior to that date. For those who enroll on or after January 1, their coverage will become effective on the first day of the following month.
- May 15, 2006: Initial enrollment ends
Penalties for delayed enrollment may begin accruing after this time. Enrollment periods will occur from November 15 through December 31 of each subsequent year.
Enrollment in Blue MedicareRx plans will be offered online, via mail, and through BCBSTX's extensive statewide network of certified brokers who are available to help beneficiaries choose a plan. For more information on Blue MedicareRx or to order an enrollment kit, call 888-579-9373 (TTY users: 888-579-9375), Monday through Friday, 7 a.m. to 7 p.m., CST, or visit www.bcbstx.com.
For more information about the new Medicare prescription drug program, visit www.medicare.gov or call 1-800-Medicare (800-633-4227, TTY/TDD users call 877-486-2048) 24 hours a day, 7 days a week.
About Blue Cross and Blue Shield of Texas:
Blue Cross and Blue Shield of Texas is making Medicare Part D products available through HCSC Insurance Services Company, which is a wholly owned subsidiary of Health Care Service Corporation, a Mutual Legal Reserve Company. These companies are independent licensees of the Blue Cross and Blue Shield Association and offer or provide services for Medicare Part D products under HCSC Insurance Services Company's contract S5715 with the Centers for Medicare and Medicaid Services.
Blue Cross and Blue Shield of Texas is the only statewide, non-investor owned health coverage provider in Texas, serving more than 4 million members in all 254 counties. Blue Cross and Blue Shield of Texas is a division of Health Care Service Corporation, a Mutual Legal Reserve Company.
SM Service Mark of the Blue Cross and Blue Shield Association, an Association of Independent Blue Cross and Blue Shield Plans.
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