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Sierra Health Services Announces Participation in Medicare Outpatient Prescription Drug Program; Company to Market Plans and Participate As Auto Assignee in 10 States

Posted on: Monday, 26 September 2005, 12:00 CDT

Sierra Health Services Inc. (NYSE: SIE) announced today that its wholly owned subsidiaries, Sierra Health and Life Insurance Co. Inc. (SHL) and Health Plan of Nevada Inc. (HPN), have been selected by the Centers for Medicare & Medicaid Services (CMS) to participate for 2006 in the stand-alone prescription drug plan (PDP), Medicare Advantage HMO, and local and regional PPO programs.

SHL will offer SierraRx(SM), a stand-alone PDP in 10 western states, including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. SHL has also been selected as a PDP sponsor in the same states for dual-eligible Medicare and Medicaid beneficiaries who will be auto-enrolled into the program. SierraRx(SM) will cover a wide variety of preferred generic and brand name prescription drugs that will be distributed through most major retail pharmacy chains and a large number of independent pharmacies.

SHL will also offer Sierra Nevada Spectrum, a regional PPO throughout Nevada, that will be available in January 2006. SHL will continue to offer its Local PPO Plan, Sierra Spectrum, throughout Nevada; Maricopa, Mohave and Pima counties in Arizona; and seven Utah counties, including Cache, Davis, Morgan, Salt Lake, Utah, Washington and Weber.

HPN will continue to offer its Senior Dimensions (SD) Medicare Advantage HMO plan, with no premium in Clark, Washoe, Nye and Esmeralda counties. SD members do not need to enroll in a stand-alone PDP because their benefit plan includes a comprehensive pharmacy benefit that will be enhanced in 2006. The SD plan also includes physician and hospital coverage.

Marketing for SierraRx(SM), Sierra Nevada Spectrum, Sierra Spectrum and Senior Dimensions 2006 programs will begin Oct. 1, 2005. The initial enrollment period begins Nov. 15, 2005, and ends on May 15, 2006.

Sierra Health Services Inc., based in Las Vegas, is a diversified health care services company that operates health maintenance organizations, indemnity insurers, preferred provider organizations and multi-specialty medical groups. Sierra's subsidiaries serve more than 580,000 people through health benefit plans for employers, government programs and individuals. For more information, visit the company's Web site at www.sierrahealth.com.

Source: Business Wire

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