PacifiCare Partners With Senior-Focused Insurance Companies Nationwide to Distribute Its Medicare Part D Prescription Drug Plans
12 9월 2005 - 8:00PM
PR Newswire (US)
National Distribution Network of Up to 30,000 Insurers, Brokers and
Agents to Deliver Preferred Access to Millions of Existing
Policyholders and Consumers CYPRESS, Calif., Sept. 12
/PRNewswire-FirstCall/ -- PacifiCare Health Systems Inc. (NYSE:PHS)
entered into a series of exclusive agreements to distribute its
Medicare Part D prescription drug plans through a national network
of senior-focused insurance companies and independent insurance
brokerage organizations. These partnerships give PacifiCare
exclusive access to more than 1.5 million current Medigap and other
senior insurance policyholders and preferred access to millions
more prospective Part D consumers nationwide. PacifiCare's national
network of recognized senior-focused insurance companies includes
American Republic Insurance Company, AEGON, Baltimore Life, Mutual
Protective/Medico Life Insurance, Sterling Investors and United
Commercial Travelers as well as other regional and local carriers.
PacifiCare and its partners will utilize co-branding strategies and
coordinated marketing efforts to educate and enroll seniors in its
Medicare Part D prescription drug plans. PacifiCare's prescription
drug plans will be marketed under the name Prescription Solutions
from PacifiCare, or co-branded with the partner insurance
companies' names, and begin delivering prescription drug benefits
on Jan. 1, 2006, when the Medicare Part D benefit is set to take
effect. "Our strategy unites PacifiCare's decades of experience in
successfully serving seniors with our partners' extensive
distribution reach, sales expertise and existing relationships with
policyholders," said Jacqueline Kosecoff, Ph.D., PacifiCare's
executive vice president, Specialty Companies. "We believe that our
Medicare Part D prescription drug plans will strongly appeal to
millions of seniors who currently need access to affordable,
quality drug benefits, while our distribution network creates a
powerful platform that will directly connect PacifiCare with
consumers." PacifiCare expects to implement additional Part D
joint-marketing relationships with senior-related companies and
senior affinity groups before Part D marketing begins in October,
according to David Spivack, senior vice president of Prescription
Solutions from PacifiCare. "We believe we will have some of the
best product offerings available for seniors to choose from," he
said. "The key to our success will be to establish a committed
distribution network that seniors can trust and rely on."
"PacifiCare's reputation in the senior market, wide geographic
coverage, knowledge of the Part D landscape and experience in
managing prescription drug programs we believe make PacifiCare the
right choice for our customers," said Michael E. Abbott, president
and chief executive officer of American Republic Insurance Company.
"Our agreement with PacifiCare enables American Republic to offer
our policyholders and prospective customers quality choices in Part
D prescription drug coverage that we feel offers an exceptional
combination of simplicity, flexibility and affordability."
PacifiCare has also signed exclusive agreements with several of the
country's largest independent insurance brokerage organizations --
or field marketing organizations -- that support general agents and
independent brokers to sell its Medicare Part D prescription drug
plans and other PacifiCare senior products including its Medicare
Advantage Prescription Drug (MA-PD) and Secure Horizons Direct
private fee-for-service plans. Many of the field marketing
organizations' agents already work closely with PacifiCare and have
been successfully selling the MA-PD and private fee-for-service
plans. "We're very excited about the contribution our brokers and
agents have been able to add to our growth in 2005," said Kathy
Feeny, PacifiCare's executive vice president of Secure Horizons.
"We believe their expertise and presence in our markets will make
for a very successful 2006." This distribution arm is expected to
extend PacifiCare's market reach, deepen its penetration and
enhance its own direct-to-consumer marketing campaigns. These
agreements, in addition to the network of insurance companies, will
leverage the power of a licensed national sales force of up to
30,000 brokers and agents and establish PacifiCare's presence in
markets across the United States. "These contracts will culminate
in a nationwide effort to ensure our broker and senior insurance
carrier partners are licensed, trained, certified and
administratively supported to sell PacifiCare's myriad senior
products," said Patti Tucker, vice president, Sales &
Distribution for Prescription Solutions from PacifiCare. "By
establishing a strong and ready foundation, we believe we are
well-prepared to immediately begin serving seniors' prescription
drug needs. We will take steps to ensure that our new partners have
everything they need to be successful." In March, PacifiCare
announced it intends to participate nationwide in the federal
government's new Medicare Part D prescription drug program.
According to Kosecoff, PacifiCare anticipates that -- pending the
signing of contracts with the Centers for Medicare & Medicaid
Services (CMS) -- it will be able to offer Part D prescription drug
plans in all 34 regions established by CMS. "By joining forces with
our nationwide insurance and broker partners, we have taken an
important step in our effort to transform PacifiCare into a
national consumer health organization," said Howard Phanstiel,
PacifiCare's chairman and CEO. About PacifiCare PacifiCare Health
Systems is one of the nation's largest consumer health
organizations with nearly 3.3 million health plan members and
approximately 11.3 million specialty plan members nationwide.
PacifiCare offers individuals, employers and Medicare beneficiaries
a variety of consumer-driven health care and life insurance
products. Specialty plan operations include behavioral health,
dental and vision, and complete pharmacy benefit management through
its wholly owned subsidiary, Prescription Solutions. More
information on PacifiCare Health Systems is available at
http://www.pacificare.com/. DATASOURCE: PacifiCare Health Systems
Inc. CONTACT: Dan Miller, +1-714-226-3726, , or Cheryl Randolph,
+1-714-226-3441, , both of PacifiCare Health Systems Inc. Media
Relations Web site: http://www.pacificare.com/
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