Health Reform and Humana Medicare Advantage Plans
There are some positive changes coming to retiree Medicare Advantage Plan members in 2012. Humana has been developing new benefit plans to assist employers and retirees on maximizing benefits and reducing costs.
Humana is working to execute a plan to reduce our benefits expense by 15 percent to ensure that – even with reduced federal payment levels – we can offer competitive, appealing and valuable Medicare Advantage products. This "15-percent solution" involves effective care management, smart use of prevention and wellness programs, and efficient provider contracting.
Humana remains firmly committed to the Medicare Advantage program. We believe our products will continue to offer a win-win value proposition – benefiting both employers and their retirees.
Medicare Prescription Coverage Discount Program for brand-name drugs...
- Beginning January 1, 2011, Medicare implemented changes to help Medicare eligible retirees with the cost of brand-name prescriptions once they reach $2,840 in total covered drug costs (the amount paid by the member and Humana).
- The Centers for Medicare and Medicaid Services (CMS) works directly with the prescription manufacturers providing close to a 50% discount on covered brand-name drugs once this threshold is met at the time of purchase.
Coverage for generic prescription...
- Beginning January 1, 2011, Medicare also implemented changes to help with the cost of generic drugs once members reach $2,840 in total covered drug costs (the amount paid by the member and Humana).
- CMS works with health plans to cover an additional 7% of the generic drug costs. This will increase to 14% cost savings in 2012.
**Note that Medicare members who now receive the low-income subsidy or are covered by a qualified, commercial prescription plan through an employer will not receive the brand or generic discounts.
Preventive Health Services...
- Beginning January 1, 2011, Humana's Medicare health plans and Original Medicare has covered 100% of the cost for more than 18 different preventive health services to help treat illnesses early before they become more serious.
Additional Medicare Reform Information
New business quotes with a January 1, 2012 effective date are available now! Contact your local Group Medicare Consultant today!
For general inquiries please contact Humana by e-mailing us at GroupMedicareSales@humana.com or calling 800-788-0506 ext. 6365.
