NEW YORK — With the annual enrollment period set to begin, two of the nation’s biggest drug store chains are announcing programs to help their senior customers compare Medicare Part D prescription drug plans.
Both CVS/pharmacy and Rite Aid say their free programs are intended to help Medicare beneficiaries find the prescription drug benefit plan that best suits their needs.
Medicare Part D, also called the Medicare prescription drug benefit, is a federal program that subsidizes the cost of prescription drugs and prescription drug insurance premiums for Medicare beneficiaries. The program’s annual enrollment period begins Wednesday and runs to December 7.
CVS says its service will be available at all CVS/pharmacy stores nationwide, via a CVS website or by calling a toll-free phone number. CVS personnel will draw upon data culled from a record of a customer’s current prescription drug purchases from CVS/pharmacy in assembling information customers can use to compare plans, the company says.
"CVS/pharmacy’s plan-comparison tool provides patients with convenient ways to learn how much money they could save by choosing a new Medicare Part D plan based on their own prescription usage," says Josh Flum, senior vice president of retail pharmacy at CVS Health. "While pharmacists cannot recommend any specific Medicare Part D plan, we can help patients understand their options based on their individual needs."
Rite Aid is inviting customers to visit its stores or its website to use the Rite Aid Medical Advisor to request the three lowest-cost prescription drug plans based on current prescriptions being filled at the retailer.
“Prescriptions play an important role in maintaining good health, and that’s why it’s important to review your prescription drug coverage each year,” says Robert Thompson, Rite Aid’s executive vice president of pharmacy.
Rite Aid’s Medical Advisor helps customers compare estimated annual costs of various plans, including monthly premiums, brand and generic co-pays and drugs covered. Customers can then discuss the Medical Advisor report with their Rite Aid pharmacist, the company says.
The announcements by CVS and Rite Aid follow a recent move by Walmart to launch an in-store program designed to educate customers on health insurance options and provide enrollment support. The retailer notes that many of its customers are trying to make sense of insurance markets, and many worry that they signed up for the wrong plan after enrollment.
