Dozens of companies approved to sponsor Medicare drug cards

Dozens of Medicare prescription drug cards have been approved by the Department of Health and Human Services. Twenty-eight private entities and 43 managed care plans will be sponsors of the cards. About 15 of the cards will be available nationally, while others will be available only in certain regions of the country.

HHS Secretary Tommy G. Thompson said the cards are expected to save beneficiaries 10% to 25% on the cost of their medications. The program is temporary and will end when the law’s comprehensive drug benefit begins in 2006.

Medicare beneficiaries can begin enrolling in the program in May. They will start getting marketing materials from card sponsors late in April. The cards will then be available in June.

Seniors will be able to choose from 209 categories of drugs, and each category must have three drugs. Low-income seniors will get $600 added to their card annually to spend on medications and will not be charged the annual fee, which can be up to $30.

For comparison prices or question, individuals are directed to visit www.medicare.gov or call (800) MEDICARE.