Aetna and Rite Aid Intend to Form Strategic Alliance for Medicare Prescription Drug Plan; Alliance Would Provide Education on New Medicare Prescription Drug Plans.HARTFORD, Conn. -- Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) and Rite Aid Rite Aid (NYSE: RAD) is a United States retailer and pharmacy chain, operating over 5,000 stores in 31 states and the District of Columbia. Rite Aid Corporation is one of the nation's leading drugstore chains. Corporation (NYSE, PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :RAD (1) (Rapid Application Development) Developing systems incrementally and delivering working pieces every three to four months, rather than waiting until the entire project is programmed before implementing it. ) today announced they intend to form a strategic alliance to help Medicare beneficiaries understand and take advantage of the new Medicare prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, program that will be effective next January. In the fall, Aetna and Rite Aid plan to begin educating Medicare beneficiaries about the program to help them make better, more informed decisions. In addition, the two companies plan to provide prescription safety and health and wellness information to consumers through in-store and community events. The new Medicare Part D Prescription Drug Plans offer Medicare beneficiaries an unprecedented level of support to help meet their prescription drug needs. Because this is a new program, beneficiaries will have many questions about their options. The Aetna and Rite Aid alliance would help answer those questions in neighborhood pharmacies and at local community events, where many beneficiaries are likely to turn for information. "Aetna will make available to Medicare-eligible consumers simple and straightforward information to help them choose a plan and meet their ongoing prescription drug needs," said Ron Williams
"We are very excited to partner with an organization like Aetna, which has national reach and broad experience with Medicare programs," said Mary Sammons, Rite Aid's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We believe an alliance with Aetna would help attract new senior customers to Rite Aid as they learn more about the value of the Medicare drug benefit and more about Rite Aid's services and programs, including our very successful 'Living More' discount and benefit program for seniors." The joint outreach programs would include informational sessions in local communities to help Medicare beneficiaries understand the Medicare Modernization Act, the Prescription Drug Plan, and the new benefits and services available to them through Aetna and Rite Aid. In addition to community outreach, senior consumers would be provided information in stores about Aetna's Prescription Drug Plan options as well as specific patient safety and wellness programs designed by Aetna in conjunction with Rite Aid. Details of the programs that Aetna and Rite Aid plan to create for Medicare beneficiaries will be available after the Centers for Medicare & Medicaid Services issues guidance on such alliances. Aetna filed an application to provide Part D plans to individuals and employers in all regions designated by CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. , except the territories. Plan bids were filed on June 6, 2005. CMS expects to award contracts in early September and CMS approved Part D drug plans will take effect January 1, 2006. As one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. benefits, Aetna puts information and helpful resources to work for its approximately 14.4 million medical members, 12.8 million dental members, 9.0 million pharmacy members and 14.0 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 672,000 health care professionals, including approximately 400,000 primary care and specialist doctors and 4,084 hospitals. For more information, please visit www.Aetna.com. (Figures as of March 31, 2005) Rite Aid Corporation is one of the nation's leading drugstore chains with annual revenues of $16.8 billion and approximately 3,400 stores in 28 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com |
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