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Kris Naidl, 414-276-6237
Madison, WI, June 17 – WPS Health Insurance, Wisconsin’s largest not-for-profit health benefits provider, today announced that it has received a conditional letter of approval from the Centers for Medicare & Medicaid Services (CMS) with respect to its application to participate in the new Medicare Part D prescription drug program. WPS will be authorized to market a Part D prescription drug plan (PDP) in the state of Wisconsin upon receipt of final approval from CMS in September.
“We are very pleased to see that our PDP application has received conditional approval from CMS,” says Guenther Ruch, Senior Vice President at WPS. “This puts us one step closer to being able to offer affordable insurance that protects Wisconsin seniors against the high cost of prescription drugs. With coverage of both brand name and generic drugs, the WPS prescription drug plan will build upon our nearly 40 year history of providing Medicare-related insurance products to the citizens of Wisconsin.”
Last week, WPS filed its Part D financial bid, which includes pricing and plan designs, to CMS. WPS, in accordance with CMS requirements, will inform its current Medicare supplement customers and others of the details of its prescription drug plan during the first week of October.
The new Part D benefit, created as a part of the Medicare Modernization Act of 2003, will be available to all those eligible for Medicare. Enrollment will begin November 15th, with coverage going into effect on January 1st, 2006.
WPS Health Insurance is a not-for-profit organization that has been providing quality health and benefit plan administration for businesses and individuals for nearly 60 years. WPS is one of the state’s largest health insurers and was founded by members of the State Medical Society of Wisconsin in order to help state residents who lacked proper medical insurance. Today, WPS, which has a Wisconsin network of more than 14,500 providers, 800 clinics and specialty care clinics and 129 hospitals, continues to address market needs by working closely with customers and health care providers. For more information about WPS Health Insurance, visit www.wpsic.com.