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Featuring reductions in prescription drug costs and money-saving Medicare Advantage benefits and extras that make a difference
WOONSOCKET, RI, Oct. 1, 2022 /PRNewswire/ — Aetna®, a CVS Health® company (NYSE:CVS), announced its 2023 Medicare offerings, featuring more affordable medical and prescription drug coverage and expanded money-saving benefits that support members’ whole health and well-being. We’ll offer new Medicare Advantage plan options, including Dual Eligible Special Needs Plans in new markets, a new Institutional Special Needs Plan and expanded Aetna Medicare Eagle® plans designed with Veterans in mind.
“In addition to the health challenges that typically come with getting older, we recognize the heavy financial strain on older adults and people with disabilities, who often live on fixed incomes,” said Christopher Cianopresident of Aetna Medicare. “To help lower their health care costs, we expanded our Aetna Medicare Solutions portfolio of products to include improved prescription drug coverage that will save members money, more essential benefits that make a meaningful difference in members’ lives and plans that fit their unique needs and budget. As part of the CVS Health family, Aetna wants our 10.6 million Medicare members nationwide to feel protected and supported through every moment of their personal health journeys.”
Expanded Medicare Advantage plans to meet diverse needs
More than 3.2 million Medicare beneficiaries are currently enrolled in an Aetna Medicare Advantage (MA) plan, which often includes valuable benefits, such as prescription drug coverage, dental, vision, hearing and fitness. To keep plans affordable, Aetna continues to offer many $0 premium plan options. Aetna estimates 84% of the Medicare-eligible beneficiaries in the US will have access to a $0 monthly premium Aetna MA plan.1
For 2023, Aetna is offering Medicare Advantage Prescription Drug (MAPD) plans in 46 states plus Washington, DC Aetna added 141 new counties across the country, providing 1 million more Medicare beneficiaries access to an Aetna plan. In total, Aetna will offer MAPD plans in 2,014 counties in 2023, accessible by 55 million Medicare beneficiaries.2
For those who qualify for both Medicare and Medicaid benefits, Aetna expanded its Dual Eligible Special Needs Plan (D-SNP) offerings across 30 states, including new markets in South Carolina, South Dakota and Utahand new PPO plan options in Georgia and South Dakota. All plans offer prescription drugs at no out-of-pocket cost and additional benefits for members who qualify for Low-Income Subsidy (LIS). Coverage varies by plan and may include healthy foods, utilities, over-the-counter items, additional transportation, companionship and fall prevention benefits.
New for 2023, Aetna will introduce the Aetna Medicare Longevity Plan, an Institutional Special Needs Plan (I-SNP), in Pennsylvania. This plan is specifically designed for people living in nursing homes. It includes prescription drug coverage and provides enhanced access to onsite care in the facility. Members receive extra benefits tailored to improve their quality of life by caring for their unique medical, social and emotional needs.
Aetna also expanded its Aetna Medicare Eagle MA plans to 42 states and 1,383 counties — reaching more than 6.1 million Veterans over age 65. These plans are designed with Veterans in mind3 to complement their VA health care coverage and ensure access to important benefits for this population. All 2023 Aetna Medicare Eagle plans will feature a $0 monthly plan premium, $0 primary care copay (including walk-in clinics), dental, vision, hearing, over-the-counter allowance, SilverSneakers® fitness program and $0 lab copay.
Robust standalone prescription drug plans with lower copays
The Aetna standalone prescription drug plans (PDP) serve 6.1 million members. In 2023, Aetna Medicare will continue to offer three individual, standalone plans. SilverScript SmartRx (PDP) will be renamed SilverScript SmartSaver (PDP) in 2023 and will feature an average monthly premium of $5.92along with $10 copays for select insulins at preferred pharmacies. SilverScript Choice (PDP) will be available to members with full Extra Help for a $0 monthly plan premium in all 50 states and DC, while SilverScript Plus (PDP) has the most robust prescription drug coverage of our PDPs. All three plans are available in all 50 states and DC and feature increased formulary coverage from 2022.4
Big reductions in prescription drug costs across the MAPD portfolio
Aetna made major changes to our formularies (drug lists) for 2023 to remove many cost and access obstacles and help our members be more adherent with their medications. Prescription drug benefit changes will result in significant cost savings for our 2023 Individual MAPD members. Highlights include :
- $0 deductibles: 100% of MAPD members will enjoy a $0 deductible on all Tier 1 drugs, with 74% of plans offering a $0 deductible on all tiered drugs (Tiers 1 – 5).
- $0 copays at preferred network pharmacies: Over 97% of our MAPD plans will offer $0 copay on Tier 1 drugs, and 50% of our MAPD plans will offer $0 copay on Tier 1 and Tier 2 drugs, for 30-, 60- or 100-day supply.
- Robust drug coverage: New for 2023, our most widely used formulary will move nearly 300 drugs from higher-cost drug tiers to lower tiers. This means direct cost-share savings for our members, giving them access to many more drugs for a $0 or low copay. Plans using our other formularies can count on similar savings. For example, a member who had a drug (like Ezetimibe/generic Zetia used to treat high cholesterol) down-tiered from Tier 3 in 2022 to Tier 2 in 2023 on a plan with a $0 Tier 2 copay in 2023 and a $47 Tier 3 copay in 2022 would save $564 next year.
- Pharmacy network: 99.9% of our MAPD plans offer prescription drug coverage with access to nearly 66,000 network pharmacies, with 24,000 preferred options offering additional savings.
- 100-day supply at no extra cost: All MAPD plans will offer 100-day supply5 for drugs on Tiers 1-4 at both…
Full story available on Benzinga.com
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