Market: Individual Medi-CareFirst is a new subsidiary created by CareFirst BlueCross BlueShield (CareFirst) to offer the new Medicare Prescription Drug program (Medicare Part D) to eligible residents of Maryland, Delaware and Washington, D.C. Enrollment in Medi-CareFirst Rx will begin on November 15, 2005 for an effective date of January 1, 2006.
Medicare beneficiaries can enroll in a Part D product during an annual open enrollment period that will begin on November 15th and extend to May 15th of the following year. Coverage for those who enroll before December 31 will begin on January 1. Coverage for those who enroll after the first of the year begins on the first day of the month following acceptance into the program.
Medi-CareFirst Rx is a standalone prescription drug plan for individuals. Group coverage will not be available for 2006. Medi-CareFirst Rx will offer a standard $250 deductible Medicare Prescription Drug benefit, along with a $0 deductible product where coverage begins immediately but is offset by higher co-pays. These products include the following components:
$250 Deductible product: $250 deductible, $5 co-pay for generic drugs, $18 for preferred brands, $40 for non-preferred brands, 25% coinsurance for specialty drugs. Monthly premium $34.78
$0 Deductible product: No deductible, $5 co-pay for generic drugs, $25 for preferred brands, $64 for non-preferred brands, 25% coinsurance for specialty drugs. Monthly premium $35.04
An advertising campaign for Medi-CareFirst Rx is already in progress. Advertisements can be seen on television, in newspapers, and in mailings throughout the open enrollment period. Applications for Medi-CareFirst Rx coverage can be accepted beginning November 15, 2005.
Additional information on the Medi-CareFirst Rx product can be found at www.medi-carefirst.com. Individuals interested in coverage can call 410-484-2544 for more information. Or click here to request more information.
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