SOURCE: Family Dollar

April 07, 2011 07:56 ET

Family Dollar Announces OTCNetwork™ Acceptance, Offering Medicare Advantage Plan Members Convenient Access to OTC Medicare Benefits

Seniors Can Now Use OTCMedicare™ Branded Health Benefit Cards While Shopping at All Family Dollar Retail Locations, Which Offers Name Brand and Family Dollar Branded OTC Items

MATTHEWS, NC--(Marketwire - April 7, 2011) - Family Dollar Stores, Inc. (NYSE: FDO) today announced OTCNetwork™ acceptance is now integrated into its retail point-of-sale (POS) terminals. OTCNetwork, a partnership between Medagate Corporation and InComm, is the first national Over-The-Counter (OTC) benefits disbursement and redemption network for Medicare Advantage plans and their members. Previously, Medicare Advantage Plan members were forced to either order OTC items for use in self-care from catalogues, or pay for OTC items out-of-pocket, then seek reimbursement from their health plan. Using OTCMedicare™ branded health benefits cards, seniors can now access their OTC Medicare benefits conveniently, while shopping at the more than 6800 Family Dollar retail locations.

"Family Dollar is committed to promoting senior health and wellness, offering a large selection of name brand and Family Dollar branded OTC items in our easy to shop neighborhood locations," said Don Hamblen, Senior Vice President of Customer Marketing for Family Dollar. "Through acceptance of OTCNetwork and the OTCMedicare branded benefits card, Family Dollar offers Medicare Advantage plan members both convenient retail access to their OTC benefits, and the ability to stretch their OTC benefit dollars farther with our every-day low prices." 

"We are extremely pleased to have OTCNetwork recognized and accepted at Family Dollar, one of the nation's leading discount retailers," said Devin Wade, CEO of Medagate. "Family Dollar understands and supports our mission of empowering Medicare Advantage plan members with the ability to treat less serious ailments via self-care with OTC medications, increasing member satisfaction, improving overall health, and dramatically reducing healthcare costs."

About OTCNetwork
OTCNetwork™ is powered by Medagate Corporation in partnership with InComm -- the leading issuer and processor of gift cards, processing over $15 billion in transactions annually. OTCNetwork is the leading Over-The-Counter (OTC) benefits disbursement and acceptance network, integrated into front-of-store Point-Of-Sale (POS) terminals at over 32,000 leading retailer locations in all 50 states. Medagate's OTCMedicare™ and OTCMedicaid™ branded re-loadable prepaid cards are the first to restrict spend exclusively to OTC Medicare and OTC Medicaid eligible items, empowering consumers with greater access to health care benefits for use in self-care. Visit our website at: www.otcnetwork.com.

About Family Dollar
Beginning with one store in Charlotte, North Carolina, in 1959, the Company currently operates more than 6,800 stores in 44 states. Family Dollar Stores, Inc., a Fortune 500 company, is based in Matthews, North Carolina, just outside of Charlotte and is a publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO. For more information, please visit www.familydollar.com.

Contact Information

  • Media Contacts:
    Joshua Braverman
    Family Dollar
    Email Contact
    (704) 814-3447

    Mark Hall
    EGOEAST Inc. (for Medagate)
    Email Contact
    609-477-3475