PharmaCare Selected by Federal Government to Offer Medicare-Approved Drug Discount Card

LINCOLN, R.I., March 26 /PRNewswire/ -- As part of a sweeping new national law covering 41 million senior citizens and people with disabilities, PharmaCare Management Services, Inc. was selected yesterday as one of the sponsors of a Medicare prescription drug discount program. The card program is designed to provide some savings on prescription purchases until full Medicare prescription drug coverage, passed by Congress in December, takes effect in 2006.

The endorsement by the federal Centers for Medicare & Medicaid Services will allow PharmaCare -- one of the nation's leading prescription benefit management companies -- to roll out its drug discount card, called myPharmaCare. The card will provide significant savings on branded and generic prescription drugs.

Thanks to the broad reach of PharmaCare's pharmacy network, Medicare beneficiaries can use their cards at over 40,000 retail pharmacies nationwide. Beneficiaries can also get prescriptions delivered to their door by using PharmaCare Direct, the company's convenient mail-order service. PharmaCare's drug utilization review system will check prescription records of myPharmaCare cardholders and flag any dangerous drug reactions. Cardholders will have access to the company's web site, http://www.pharmacare.com, which features innovative programs to educate consumers about the availability and safety of alternative generic drugs. And myPharmaCare members will be able to call a dedicated customer service center to get their prescription drug questions answered quickly.

"Improved prescription drug coverage is great news for consumers and this government seal of approval is great news for PharmaCare," said Greg Weishar, president and CEO of PharmaCare. "We're uniquely positioned to provide exceptional service under the new federal program. We've built our reputation on educating and empowering consumers. We have proven expertise in managing discount card programs. And we can offer the savings and safety benefits found in a managed prescription program."

Medicare beneficiaries can begin enrolling for myPharmaCare cards in May and, once approved, can start using their cards in June. PharmaCare, a leading prescription benefit manager (PBM), provides integrated network pharmacy claims processing, mail pharmacy services, specialty pharmaceuticals, benefit design consultation, drug utilization review, formulary management, disease management, and medical drug data analysis services to over 15 million participants throughout the U.S. PharmaCare's clients include managed care organizations, insurance companies, corporate health plans, unions, government agencies and other funded benefit plans. PharmaCare is a subsidiary of CVS Corporation. More information can be found at http://www.pharmacare.com.