BALTIMORE--(BUSINESS WIRE)--Transamerica announced today its new Medicare Prescription Drug Plans (PDP) for individual Medicare consumers for 2014. Transamerica will continue to make available its group Medicare Supplement and Employer Prescription Drug Plan’s (Employer PDP) distribution through its Transamerica Affinity Services business unit.
“Our Part D plans help customers get value for their money with options to meet their needs and budget. Consumers are encouraged to shop coverage each year during the Part D annual open-enrollment period, from October 15 to December 7. All Part D plans will usually require you to get your prescription drugs from pharmacies that participate in the plan. Our new plans provide the convenience of a large network of independent and chain pharmacies and the convenience of filling extended days supply prescriptions via mail order or at retail pharmacies. Members and distribution partners should also expect an outstanding level of service they have enjoyed with our companies for many years,” said Brian Healy, Senior Vice President at Transamerica Affinity Services, a business unit of Transamerica.
Transamerica MedicareRx (PDP) offers individual consumers savings on prescriptions with a choice of plans to fit their needs and budget. The plan, branded Transamerica MedicareRx (PDP), is by Stonebridge Life Insurance Company (Rutland, VT), a Transamerica company.
The new individual Medicare Prescription Drug Plan provide cost-effective coverage at over 65,000 pharmacies nationwide, including major chains and many independent community pharmacies. Mail order and extended-day supplies at retail are also available for member convenience. The plan’s medication management program and 24/7/365 member services will ensure beneficiaries receive services to support their needs.
Transamerica’s MedicareRx (PDP) introduces two plan design options and competitive rates within their respective regions under the Center for Medicare & Medicaid Services (CMS).
Transamerica MedicareRx (PDP) plans:
- Transamerica MedicareRx Classic (PDP): Basic plan and lowest premium, featuring $0 co-pays on Tier 1 – Preferred Generic drugs.
- Transamerica MedicareRx Choice (PDP): A more enhanced plan with no deductible, an expanded drug formulary, and $0 co-pays on Tier 1 – Preferred Generic drugs.
The Transamerica MedicareRx (PDP) product is available in 49 states and D.C.; coverage is not available in New York or in U.S. territories. Stonebridge Life currently sponsors the 15th largest Medicare Prescription Drug Plan in the market (serving only employer groups).*
Stonebridge Life has received some of the highest ratings available from insurance rating agencies such as A.M. Best, whose current rating of the company is A+ (Superior, 2nd of 16 rating categories, as of May 8, 2013).
Consumers: For more information or to enroll, please call 1.877.527.1958, (TTY users call 711) 8 a.m. to 8 p.m., 7 days a week, or visit transamericamedicarerx.com. Transamerica companies also offer a variety of life, health, dental, and Medicare Supplement coverage.
Agents: This new product is not available for individual agent distribution at this time. Learn about Medicare Supplement Insurance for agent distribution by contacting Transamerica Agency Group, email firstname.lastname@example.org. Agents representing groups should contact Transamerica Affinity Services — a leading provider of group supplement health and life coverage.
*Source: www.cms.gov, July 2013 Monthly Enrollment by Plan
Stonebridge Life Insurance Company is a Transamerica company. Transamerica Affinity Services, Inc., a business unit of the Life & Protection Division of Transamerica, combines leading-edge products, services, administration, and distribution to help you bridge the distance between where you are today and where your organization wants to go tomorrow. We are a premier provider of direct response supplemental life and health products in the United States. Our partners include brokers, consultants, third party administrators, and managing general underwriters, who are leaders in their respective markets such as: associations, employers, government entities, credit unions, travel agencies, colleges and K-12 schools, unions, Taft-Hartley groups, events, and organizations.
The Transamerica companies offer a wide array of innovative financial services and products with a common purpose: to help individuals, families, and businesses build, protect and preserve their hard-earned assets. With more than a century of experience, Transamerica has built a reputation on solid management, sound decisions and consumer confidence. For more information, visit www.transamerica.com.