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Medicare Drug Program News
Wal-Mart to Price Nearly 300 Generic Drugs at $4 to
Help Seniors in Doughnut Hole
Program starts tomorrow in Tampa, will eventually
be nationwide
 September 21, 2006 – With thousands of senior
citizens falling into the Medicare drug program's "doughnut hole," where
premiums continue but drug coverage stops, Wal-Mart has announced a
program in Florida to make nearly 300 generic drugs available for only
$4 per prescription for up to a 30-day supply. This begins tomorrow in
the 65 Wal-Mart, Neighborhood Market and Sam's Club pharmacies in the
Tampa Bay area and will expand throughout Florida in January. This, the
company says, is the first step toward making the offer nationwide.
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Four Million to be in Medicare Drug Program Doughnut
Hole by End of Month
Survey finds 16%
dropping medications rather than go to generics
September 21, 2006 –By the end of this month, four
million Medicare-eligible senior citizens and disabled, averaging seven
prescriptions per month, are estimated to fall into the Medicare Part D
"doughnut hole," a nearly $3,000 coverage gap where their drugs are no
longer paid for by their drug plan, yet, they must continue to pay the
monthly premium. A new study indicates about 16 percent will just stop
taking their medications. Read more...
Eight of 10 Senior Citizens Satisfied With Medicare
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September 15, 2006 -
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Medicare Advocates Question CMS Tip Sheet on Drug
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Info sent to 'CMS
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August 18, 2006 –
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Senior Citizens to See Medicare Drug Plans Cost
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CMS credits smart plan choices and competitive
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August 16, 2006 –
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Website Aims to Help Senior Citizens Stay Afloat in Medicare Drug
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'Beat the Doughnut Hole' effort by Center
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August 8, 2006 –
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Confusion Surrounds Doughnut Hole in Medicare Drug
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Three major newspapers find lots of confusion among
seniors
July 31, 2006 – Increasing numbers of senior
citizens are falling into the infamous "doughnut hole" in the Medicare
drug program, where they must pay the full cost of their drugs. Three
major newspapers have recently focused on the confusion that surrounds
this hole in the Part D program, according to KaiserNet.org.
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Medicare Drug Program
or
Medicare
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The program, which Wal-Mart says is part of their
ongoing commitment to providing more affordable healthcare for America's
working families, will help alleviate a major challenge for seniors who
have fallen into the "doughnut hole" coverage gap in their Medicare Part
D prescription drug plans and now find themselves responsible for paying
100 percent of their prescription medicine costs.
It is not, however, aimed only at senior citizens –
the company says it wants to help all "working families."
"Each day in our pharmacies we see customers
struggle with the cost of prescription drugs," said Wal-Mart CEO H. Lee
Scott, Jr. "By cutting the cost of many generics to $4, we are helping
to ensure that our customers and associates get the medicines they need
at a price they can afford. That's a real solution for our nation's
working families."
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Newer Stories |
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Kmart Says Its 90-Day Deal on Generic Drugs is
Better than Wal-Mart's 30-Day
Kmart's plan -
already nationwide - offers 90-day supply for $15
September
22, 2006 – Kmart says it has a better deal on generic drugs for senior
citizens trying to buy prescription drugs after falling in the "doughnut
hole" of most Medicare drug plans. Wal-Mart said yesterday it will offer
generic drugs at $4 for a 30-day supply. Kmart says its deal, already in
place nationwide, is a 90-day supply for $15.
Read more...
Medicare's Doughnut Hole Gets Even Bigger in 2007,
Reports Medical Rights Center
Asclepios
newsletter says administration brags that the average Part D premium is
going down, but it fails to mention that all other out-of-pocket is
going up
September 22, 2006 – There is a storm of concern
over the millions of senior citizens falling into the "doughnut hole" in
Medicare drug plans, which is where seniors continue to pay their
premiums but get no help on buying drugs. If it is bad this year, wait
until next year when the "doughnut hole" gets even bigger, according to
Asclepios, the weekly Medicare consumer advocacy update from the
Medicare Rights Center.
Read
more...
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"Competition and market forces have been absent
from our healthcare system, and that has hurt working families
tremendously," Scott said. "We are excited to take the lead in doing
what we do best -- driving costs out of the system -- and passing those
savings to our customers and associates."
In addition, the program provides a solution for
the nearly 2.7 million uninsured Floridians who may also avoid filling
prescriptions and remain untreated. Wal-Mart estimates that the program
will save the state's Medicaid program hundreds of thousands of dollars
annually.
"This act of good corporate citizenship will help
consumers manage healthcare costs, while benefiting Florida's growing
population," said Florida Governor Jeb Bush. "In addition to providing a
great service, Wal-Mart is encouraging important conversations between
patients and their doctors about the cost savings associated with
generic prescriptions. I am pleased Wal-Mart chose Florida to launch
this initiative where our large population of seniors will greatly
benefit."
"Fifty-bucks for a year's supply of prescription
drugs is a pretty darn good deal for consumers," said U.S. Senator Bill
Nelson (D-FL), an outspoken proponent of giving people access to
lower-cost prescriptions. "Because Wal- Mart has the ability to shape
the market, maybe other retailers will follow suit."
In announcing the program, Bill Simon, executive
vice president of the Professional Services Division for Wal-Mart, noted
that purchasing a 30-day supply of the popular diabetes drug, Metformin,
for $4 represents a nearly 50 percent savings from the cost of the brand
name version of the drug. In addition, purchasing a 30-day supply of the
brand name blood-pressure drug typically costs $12. Getting the generic,
Lisinopril, for $4 saves customers nearly $100 annually.
"These are medicines for diabetes, cardiovascular
disease, asthma, colds and infections -- the kinds of medicines that
working families need so they can treat illness, manage conditions and
stay well," said Simon. "Rising healthcare costs are eating up more and
more of families' budgets, so this program brings a lot of value to our
customers, associates and communities."
Key components of the program include:
● The $4 pricing will be available to all
pharmacy customers with a prescription from a doctor that can be filled
with a covered generic medicine.
● This program will be available to the
uninsured.
● Insurance will be accepted.
● The program presently covers 291 generic
medications from many of the most common therapeutic categories.
● The medicines represented are used to treat
and manage conditions including allergies, cholesterol, high blood
pressure and diabetes. Some antibiotics, antidepressants, antipsychotics
and prescription vitamins are also included.
● The program will be available statewide in
Florida in January 2007.
● Wal-Mart intends to take the program to as
many states as possible next year.
Generic medications contain the same active
ingredients as their "brand- name" counterparts and are equally
effective, but cost significantly less. Consumers interested in saving
money on prescriptions through the program should ask their doctor if a
generic is available for their prescription and is right for them. At
this time, the $4 prescriptions are not available by mail order and are
available on-line only for in-person pickup in the Tampa Bay, Fla. area.
Not all generics in each therapeutic category are included.
For further information on the program, customers
can call 1-800-WALMART or visit their Tampa area Wal-Mart, Neighborhood
Market or Sam's Club to discuss the program with their pharmacist or
pick up a brochure that explains program details.
About Wal-Mart
Wal-Mart Stores, Inc. operates Wal-Mart discount
stores, supercenters, Neighborhood Markets and SAM'S CLUB locations in
the United States. The company operates in Argentina, Brazil, Canada,
China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan,
Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. The
company's securities are listed on the New York Stock Exchange and NYSE
Arca, formerly the Pacific Stock Exchange, under the symbol WMT.
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