NU Online News Service, Sept. 4, 10:24 a.m. — PacifiCare Health Systems Inc., Cypress, Calif., has introduced a new prescription drug plan for Medicare beneficiaries living in California.
The Secure Horizons Prescription Advantages Plan covers the cost of a relatively small formulary, or drug list, that includes 400 drugs. Most of the drugs are generic drugs used to treat chronic conditions, PacifiCare says.
The plan will also offer discounts of up to 30% on mail-order purchases of other drugs, and 15% discounts on purchases of other drugs bought at retail pharmacies.
Although the formulary is narrow, coverage is unlimited, and the plan has no annual deductible or annual maximum, PacifiCare says.
Premiums, which vary by geographic region, range from $35 per month for 65-year-old Medicare beneficiaries to $54 per month for 80-year-old beneficiaries.
Copayments for drugs purchased through retail pharmacies are $15 for drugs with a retail cost under $45 and $30 for drugs with a retail cost over $45.
Copayments will be lower for drugs purchased through the mail-order pharmacy program.