OWINGS MILLS, Md.—A unit of CareFirst BlueCross BlueShield has applied to the Centers for Medicare and Medicaid Services to participate in the new Medicare Part D prescription drug benefit program.
The program will be available to eligible seniors and other Medicare beneficiaries in Maryland, Delaware and Washington.
CareFirst is the latest insurer to announce its participation in the Medicare Part D program. UnitedHealth Group Inc., Aetna Inc., Humana Inc., WellPoint Inc. and CIGNA Corp. all have stated their intentions to participate in the program.
Under the Medicare Prescription Drug, Improvement and Modernization Act of 2003, employers that offer Medicare-eligible retirees prescription drug benefits that are actuarially equivalent to Part D will be eligible for a partial federal subsidy of their drug costs.
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