BLOOMFIELD, Conn., Oct. 3, 2005 /PRNewswire-FirstCall/ -- CIGNA HealthCare today announced that it has agreed with Duane Reade pharmacies to co-brand CIGNA's CIGNATURE Rx Medicare Part D Prescription Drug Plan and collaborate on co-sponsored educational communications. Under the Agreement, Duane Reade pharmacies and CIGNA will jointly inform and educate the greater New York metropolitan area residents about the CIGNATURE Rx Medicare Prescription Drug Plan. Duane Reade has selected CIGNA HealthCare as the only Medicare Part D prescription drug plan sponsor with which it will co-brand a Medicare Part D prescription drug plan card.
"We are pleased to work with Duane Reade to offer people in the greater New York City metropolitan area access to our simple, affordable Medicare Part D prescription drug plans," said Terri Swanson, vice president of CIGNA Senior Care. "Duane Reade's significant market presence is a key differentiator because it helps provide CIGNA Medicare prescription drug beneficiaries in the greater New York metropolitan area convenient access. We look forward to working with Duane Reade to educate beneficiaries on the new prescription drug benefit and the CIGNATURE Rx plan options."
CIGNA will offer three different CIGNATURE Rx(SM) Medicare Part D plan options with varying levels of coverage. Options will include a no-deductible plan and a plan that provides an increased level of coverage for generic drugs through the coverage gap. Each of the options will feature broad access to prescription drugs. Plan participants will be able to obtain their prescriptions at any of the more than 50,000 CIGNATURE Rx participating network pharmacies nationwide, including more than 255 Duane Reade pharmacies throughout the greater New York metropolitan area.
"Selecting CIGNA to co-brand a Medicare Part D prescription drug plan will enable us to offer our patients an excellent choice for coverage under Medicare Part D," said Tony Cuti, Duane Reade CEO. "The Duane Reade business objective of offering the most efficacious drug selection at the lowest net cost and CIGNA's Medicare Part D plans are well aligned. Duane Reade and CIGNA are both focused on being an advocate for reducing prescription drug costs to consumers."
CIGNA will make educational information available to Duane Reade customers at pharmacy departments in each of Duane Reade's retail locations. Customers who enroll will be issued a co-branded CIGNA/Duane Reade prescription drug card allowing prescriptions to be filled at CIGNA network participating pharmacies, including any Duane Reade Pharmacies.
In addition to welcoming CIGNA Part D Prescription plan cards at its pharmacies, Duane Reade will also accept Medicare Part D prescription drug cards from the other Medicare Part D providers approved by the Centers for Medicare and Medicaid Services.
About Duane Reade
Founded in 1960, Duane Reade is the largest drug store chain in the metropolitan New York City area, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, photo supplies and photofinishing. Duane Reade's aggressive and targeted store opening program has expanded the chain from 67 stores at the end of 1997 to 255 stores at the end of 2004. The Company recorded fiscal 2004 sales of $1.4 billion.
About CIGNA
CIGNA will offer its Medicare Part D plans in all 50 states and the District of Columbia in alliance with NationsHealth, Inc. . The alliance combines CIGNA's pharmacy product capabilities with NationsHealth's experience in service and distribution to the Medicare population.
CIGNA HealthCare, headquartered in Bloomfield, CT, provides medical benefits plans, dental coverage, behavioral health coverage, pharmacy benefits, and products and services that integrate and analyze information to support consumerism and health advocacy. "CIGNA" and "CIGNA HealthCare" refers to various operating subsidiaries of CIGNA Corporation . Products and services are provided by these operating subsidiaries and not by CIGNA Corporation.
CIGNA HealthCareCONTACT: Patricia Caballero of CIGNA, +1-201-533-5028,patricia.caballero@cigna.com, or Melissa Merrill of Financial Dynamics,+1-212-850-5741, mmerrill@fd-us.com, for Duane Reade
Web site: http://www.cigna.com//
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