17 options for Medicare drug plans approved

Monday, Sept. 26, 2005 | 11:10 a.m.

The Centers for Medicare & Medicaid Services on Friday approved 17 options for standalone prescription drug plans for Medicare beneficiaries.

Aetna Life Insurance Co., Anthem Insurance Co., Connecticut General Life Insurance Co., Coventry Health and Life Insurance Co., Humana Insurance Co., Marquette National Life Insurance Co., Medco Containment Life Insurance Co., MemberHealth, PacifiCare Life and Health Insurance Co., RxAmerica LLC, Sierra Health and Life Insurance Co., SilverScript Insurance Co., Sterling Life Insurance Co., UniCare, United American Insurance Co., UnitedHealthcare Insurance Co. and Wellcare Health Plans were approved to offer Medicare Part D drug plans in Nevada.

Humana and Coventry offer plans with monthly premiums of less than $20 while others offer higher monthly premiums and additional services or more variety in their drug coverage.

Seven of Nevada's drug plans will have no monthly premium for people who qualify for financial assistance based on their limited income and assets.

Medicare beneficiaries, who are mostly people age 65 or older, will receive prescription drug coverage for the first time under the federal government's health plan. Beneficiaries can begin signing up for a drug plan Nov. 15 and the plans take effect Jan. 1.

Seniors on Medicare Advantage plans -- private Medicare plans that provide more benefits than traditional Medicare -- can obtain their prescription drug coverage through those plans.

PacifiCare, Humana, Hometown Health Plan, Sierra Health and Health Plan of Nevada -- a sister company to Sierra Health -- will offer Medicare Advantage plans.

Sierra health, Health Plan of Nevada and PacifiCare will offer health and drug coverage without a separate premium for drug coverage.