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Humana Pharmacy Solutions Meets Transparency Standards

HR Policy Association Certification Promotes Use of Cost-Effective Drugs

Category:

Tuesday, October 7, 2008 11:14 am EDT

Dateline:

LOUISVILLE, Ky.

Public Company Information:

NYSE:
HUM

LOUISVILLE, Ky.--(BUSINESS WIRE)--The HR Policy Association has once again certified Humanas pharmacy benefits manager (PBM), Humana Pharmacy Solutions, as meeting its transparency standards for drug purchasing.

This is the second year Humana Pharmacy Solutions has been recognized by the group for its efforts around disclosure of drug pricing.

Specifically, Humana Pharmacy Solutions committed to meeting the following standards for HR Policy Association coalition members:

  • Providing employers the acquisition cost for brand and generic drugs dispensed at retail pharmacies;
  • Providing employers acquisition-based pricing for brand and generic drugs delivered through mail service;
  • Disclosing and passing through all revenue from drug manufacturers that relates to utilization under an employers contract;
  • Providing acquisition cost and the same level of transparency for especially costly specialty pharmacy drugs; and
  • Allowing rigorous audit rights to ensure compliance with the Transparency In Pharmaceutical Purchasing (TIPPS) standards.

We share the HR Policy Associations concerns about rising drug costs, said William Fleming, PharmD., vice president of Humana Pharmacy Solutions. Like them, we believe that disclosing the cost of medication and promoting generic utilization, when appropriate could be our most important tool in helping gain control of soaring prices.

Humana Pharmacy Solutions has always believed that its clients deserve to understand the sources of revenue for their PBM as well as have their funds treated the same way that a PBM would treat its own, added Mark Morse, director of sales and segment support for Humana Pharmacy Solutions.

The HR Policy Association is a public policy advocacy organization representing 250 leading employers in the United States. Collectively, its members employ more than 12 percent of the U.S. private sector work force or some 19 million Americans.

About Humana Pharmacy Solutions

Humana Pharmacy SolutionsSM (HPS) offers traditional pharmacy benefits management with member-focused strategies to yield savings in pharmacy and total health expense. Providing prescription coverage for both individuals and groups, HPS strives to give members access to the medicine they need while offering guidance on clinically proven, therapeutically equivalent drugs that bring better value to the member and the customer.

About Humana

Humana Inc., headquartered in Louisville, Kentucky, is one of the nations largest publicly traded health and supplemental benefits companies, with approximately 11.5 million medical members. Humana is a full-service benefits solutions company, offering a wide array of health and supplementary benefit plans for employer groups, government programs and individuals.

Over its 47-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.

More information regarding Humana is available to investors via the Investor Relations page of the companys Web site at http://www.humana.com, including copies of:

  • Annual reports to stockholders
  • Securities and Exchange Commission filings
  • Most recent investor conference presentations
  • Quarterly earnings news releases
  • Replays of most recent earnings release conference calls
  • Calendar of events (includes upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
  • Corporate Governance Information

Contact:

Humana Corporate Communications
Doug Bennett, 502-580-3625
dbennett@humana.com