COVENTRY HEALTH CARE JOINS FORCES WITH WALGREENS, WALMART ON NEW 2012 MEDICARE PART D PLAN

FIRST HEALTH VALUE PLUS IS ONE OF THE NATION’S LOW PREMIUM $0 DEDUCTIBLE PLANS AND OFFERS LOW CO-PAYS ON PRESCRIPTIONS FILLED AT PREFERRED RETAIL PHARMACIES

BETHESDA, Md. (Nov 23, 2011) /PRNewswire/ — Coventry Health Care, Inc. announced that it has joined in partnership for 2012 with some of the nation’s largest and best known names in retail and pharmacy—Walgreens, Walmart, and Target—to offer a novel Medicare prescription drug plan known as First Health Value Plus (PDP) as Coventry’s newest Medicare Prescription Drug Plan.

First Health Value Plus is built on one of the nation’s broadest preferred pharmacy networks and offers lower member co-payments for prescriptions filled at any one of the almost 14,000 combined Walgreens, Walmart, and Target pharmacy locations. First Health Value Plus will potentially provide hundreds of dollars in annual savings to Medicare beneficiaries and be a competitive alternative versus the lowest premium stand-alone Part D plan that includes a deductible.

“We believe our new Part D plan brings great value to beneficiaries and the Medicare program by establishing broad access to prescriptions through some of the most recognized names in the pharmacy and retail business.” said Nancy Cocozza, senior vice president of Medicare at Coventry Health Care.

“Walgreens is excited about joining with Coventry as a key preferred pharmacy partner through our thousands of retail locations to participate in a new kind of prescription drug plan. Today’s Medicare beneficiaries are looking for a community pharmacy in their neighborhood that offers value.” said Kermit Crawford, Walgreens president of pharmacy, health and wellness.

“Coventry is strongly committed to the Medicare program and the beneficiaries we serve. Our First Health Value Plus plan demonstrates an innovative new approach to Part D by combining affordable coverage and wide access to preferred pharmacies in urban, suburban, and rural locations. As a result, we believe that Value Plus will be a very competitive and compelling Part D option for many beneficiaries,” said Coventry’s Nancy Cocozza.

About Coventry Health Care
Coventry Health Care (www.coventryhealthcare.com) is a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers’ compensation services companies. Coventry provides a full range of risk and fee-based managed care products and services to a broad cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators.

About Walgreens
Walgreens (www.walgreens.com) is the nation’s largest drugstore chain with fiscal 2011 sales of $72 billion. The company operates 7,760 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services include retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.

Other pharmacies are available in our network.

First Health/Coventry is a Medicare-approved Part D sponsor.