One of the Nation's Largest Medicare Health Plans Offers New Prescription Drug Insurance Plan...

Business Editors & Health/Medical Writers

CYPRESS, Calif.--(BUSINESS WIRE)--Sept. 4, 2002

-- Secure Horizons Prescription Advantages Plan provides unlimited coverage for approximately 400 medications and discounts on most other medications.

-- New option helps seniors manage




				

				
				 
				


 prescription drug cost.

PacifiCare Health Systems Inc. (Nasdaq:PHSY) announced the Secure Horizons Prescription Advantages Plan, a new prescription drug insurance plan for Medicare beneficiaries.

The Secure Horizons Prescription Advantages Plan, which has no annual deductible and no annual maximums, provides unlimited coverage for approximately 400 medications, primarily composed of generic medications covering most chronic conditions and ailments.

The plan will also offer discounts on most other drugs of up to 30 percent when purchased through mail order and up to 15 percent at participating retail pharmacies.

"Seniors need prescription drug options now and they are frustrated that Congress has not yet acted to add a prescription drug benefit to traditional Medicare," said Howard G. Phanstiel, president and chief executive officer of PacifiCare Health Systems.

"In these cost-conscious times, we are taking action to address the prescription drug needs of seniors by providing new, innovative options, especially as the cost of prescription drugs increases 12 to 15 percent each year. The Secure Horizons Prescription Advantages Plan is an insurance product that offers seniors peace of mind and the ability to budget for their prescription drug costs throughout the year."

Premiums and copayments for the Secure Horizons Prescription Advantages Plan are on a tiered system. Premiums vary by geographic region, starting at $35 a month for seniors ages 65 and 66, and increase by age up to the maximum of $54 for seniors age 80 and above.

Copayments depend on how the drugs are purchased and the cost of the medications. A $15 copayment entitles enrollees to a 30-day supply from a retail pharmacy for covered drugs whose retail cost is less than $45 and a $30 copayment for drugs more than $45. Enrollees can choose to fill their prescriptions through more than 50,000 retail pharmacies participating in the plan.

Enrollees who order their medications through Prescription Solutions, PacifiCare's pharmacy benefit manager and mail service, can realize additional savings. A 90-day supply of covered medication with a cost of less than $135 has a $30 co-pay, a savings of up to $105 off the retail price. A 90-day supply of medication that has a cost of more than $135 has a $60 co-pay, a savings of at least $75.

The Secure Horizons Prescription Advantages Plan is available in all counties in California. The Secure Horizons Prescription Advantages Plan, together with Secure Horizons' Medicare Supplement plans, afford seniors access to comprehensive medical and prescription drug coverage. More information about the Secure Horizons Prescription Advantages Plan is available by calling 800/637-9284.

About PacifiCare Health Systems

PacifiCare Health Systems is one of the nation's largest health and consumer services companies with approximately $11 billion in annual revenues. Primary operations include health insurance products for employer groups and Medicare beneficiaries in eight states and Guam serving approximately 3.3 million members.

Other specialty products and operations include pharmacy and medical management, behavioral health services, life and health insurance and dental and vision services. More information on PacifiCare Health Systems can be obtained at www.pacificare.com.