SOURCE: Millennium Adminstrators

Millennium Adminstrators

August 21, 2009 10:45 ET

Millennium Administrators Offers Fully Insured Prescription Plans That Can Cut Costs for Employers

SCHWENKSVILLE, PA--(Marketwire - August 21, 2009) - Millennium Administrators, a healthcare consulting firm specializing in administering employee healthcare benefits nationwide, is now offering fully insured prescription drug benefit packages to employers in Pennsylvania, New Jersey, Delaware and northern Maryland. Millennium estimates that employers that "carve out" the prescription component from their medical benefit package could save between 10 and 30 percent on their prescription benefit costs.

"We are delighted to be able to offer the option of a fully insured prescription carve-out for those employers that may not want to assume the risk of a self-insured plan," said Sara Picard, President, Millennium Administrators. "Our fully insured Rx plan is often far more competitive than those offered by the medical carrier our client is contracted with."

Plans are available for employer groups of five or more employees. Millennium can customize plans based on the needs and budgets of employers, offering options such as varying co-pay levels, formularies, deductibles, and cost-management programs. Plans cover outpatient prescription drugs and prescribed injectable insulin. Some exclusions and limitations apply.

Benefits of the fully insured prescription benefit plans from Millennium Administrators include:

--  Nationwide access - Millennium cards are accepted at more than 60,000
    pharmacies nationwide.
--  Dedicated service - Millennium offers 24/7 member service, and an
    agent is always on call to serve employers.
--  Eligibility management - Millennium manages additions and deletions,
    as well as I.D. card generation and dependent audits.
--  Retail to mail - Encourages employees to fill maintenance medications
    via mail order.
--  Step therapy - Promotes utilization of medications that are proven
    safe and effective and available at the lowest possible cost, based on pre-
    established clinical criteria.
    

Employers interested in receiving a quote or a no-obligation benefit assessment can contact Millennium at 866-644-2489.

Millennium Administrators' fully insured prescription plans are underwritten by Fidelity Security Life Insurance Company. Fidelity Security Life Insurance Company is rated A- (Excellent) based on an analysis of financial position and operating performance by A.M. Best Company, an independent analyst of the insurance industry.

About Millennium

Founded in 1998, Millennium Administrators is a national healthcare consulting firm specializing in employee benefits and administration. Headquartered in Schwenksville, Pa., Millennium serves a diverse customer base of large and small employer groups, healthcare consultants and brokers.

Contact Information

  • CONTACT:
    Sara Picard
    Millennium Administrators
    (610) 222-9400
    Email Contact