Baltimore – November 20, 2014
Since it began underwriting Medicare Part D plans, Stonebridge Life Insurance Company (a Transamerica Company) has consistently received a 4-star rating from the Centers for Medicare and Medicaid Services (CMS) while pursuing a strategic growth strategy. The composite plan, made up of individual and group solutions, recently received a 4-out-of-5 star rating from CMS for plan year 2015.
The stable Star Ratings and growth strategy are a direct reflection of Transamerica’s commitment to Medicare beneficiaries. In just four years, the Group Medicare Part D solution has become the fifth largest Employer Group Waiver Plan (EGWP) by enrollment.¹
“The Transamerica companies are constantly focused on improving and delivering quality and service to our consumers through all of the solutions we offer," says Mark Zimmerly, Vice President of Business Development at Transamerica Affinity Services. “Our Part D solutions deliver more value, choice, and coverage to Medicare beneficiaries than ever before. This is a direct result of our dedication to providing customers with exceptional service, competitive solutions, and precisely managed plans.”
The Group Medicare Part D EGWP solution provides Medicare beneficiaries with cost-effective coverage at over 65,000 pharmacies, and the individual Medicare Part D Plan solution provides over 50,000 pharmacy options, including major chains and many independent community pharmacies. Mail order and extended-day supplies at retail outlets are also available for member convenience. The plan’s Medication Therapy Management program and 24/7/365 customer service will ensure retirees receive services to support their needs.
CMS ratings apply to both of Transamerica’s Part D solutions:
• The Transamerica Group Medicare Prescription Drug Plan (Employer PDP) solution named Medicare GenerationRxSM, an "800-series" Employer Group Waiver Plan (EGWP).
• The individual Prescription Drug Plan (PDP), named Transamerica MedicareRx (PDP).
Plans are underwritten by Stonebridge Life Insurance Company, a Transamerica company.
CMS Star Ratings
Star Ratings help Medicare beneficiaries make an informed decision when evaluating the relative quality of service and performance of a Prescription Drug Plan (PDP). Medicare evaluates plans based on a 5-star rating system. Star Ratings are calculated each year and may change from one year to the next.
Here are some key facts from Medicare’s official website about Medicare Star Quality Ratings:
• CMS reports scores and compares plans based on performance.
• The ratings are used to compare all Medicare plan types.
• Overall quality is based on the plan’s ratings in more than 12 different categories ranging from customer service, member complaint levels, to the accuracy of its drug pricing on Medicare's website.
• Plans are also rated on how often members are prescribed drugs in a way that is safer and clinically recommended.
Flexibility for producers and employer groups
With a variety of plan design and contribution options, the “800-series” Employer Group Waiver Plan (EGWP) can help employers, government agencies, and union groups closely match existing benefit structures, manage benefit costs, and easily transition retirees from another prescription drug plan.
For more information about the Group Medicare Prescription Drug Plan “800-series” EGWP, please contact Mark Zimmerly, at 1.800.229.6565, ext. 1505312, or firstname.lastname@example.org.
Value for Medicare Beneficiaries
Are you interested in Transamerica Company’s Medicare Part D solutions through your association? Contact us today at 1-800-247-1771 to see if you are eligible.
*The Medicare Part D solutions are underwritten by Stonebridge Life Insurance Company, a Transamerica company, and distributed through the Life & Protection Division of Transamerica.
Stonebridge Life Insurance Company (a Transamerica Company) is a PDP plan sponsor with a Medicare contract. Enrollment in this plan depends on contract renewal.
Stonebridge Life Insurance Company is a Transamerica company. Transamerica Affinity Services, Inc., a business unit of the Life & Protection Division of Transamerica, combines leading-edge products, services, administration, and distribution to help you bridge the distance between where you are today and where your organization wants to go tomorrow. We are a leading provider of direct response supplemental life and health products in the United States. Our partners include brokers, consultants, third party administrators, and managing general underwriters, who are leaders in their respective markets such as: associations, employers, government entities, credit unions, travel agencies, colleges and K-12 schools, unions, Taft-Hartley groups, organizations other sponsoring groups.
Transamerica Affinity Services provides group services including Co-Branded Partner Programs, Financial Risk Management, Direct Marketing, Insurance Administration & Compliance, and Affinity Marketing. The business unit makes available a portfolio of products including: Medicare Supplement Insurance, Retiree Medical, Medicare Part D, Executive Medical Reimbursement, TRICARE Supplement, Travel, Life and Accidental Death and Dismemberment, and other supplemental health and life insurance.
With a history that dates back over 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings and retirement and investment solutions, serving millions of customers throughout the United States and Canada. Transamerica is a member of the Aegon group of companies. Aegon is one of the world’s largest life insurance, pension and asset management groups, operating in over 25 markets worldwide with some 26,000 employees.
¹Source: www.cms.gov, analysis of September 2014 Enrollment Reports