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Sierra Health Services Announces Continued Participation in Medicare Prescription Drug Program

Posted on: Monday, 2 October 2006, 06:00 CDT

Sierra Health Services, Inc. (NYSE:SIE) announced today that its wholly owned subsidiaries, Sierra Health and Life Insurance Company, Inc. (SHL) and Health Plan of Nevada, Inc. (HPN), have been selected by the Centers for Medicare & Medicaid Services (CMS) to participate for 2007 in the stand-alone prescription drug plan (PDP), Medicare Advantage HMO, Local and Regional PPO programs, and the Medicare Advantage Private Fee-For-Service (PFFS) program.

SHL will offer SierraRxSM, a stand-alone PDP, in 30 states and the District of Columbia. SHL will market its plan in only a few selected states. Enrollment in SierraRxSM in those states in which no active marketing will occur, will be based solely on potential beneficiaries identifying the plan from the CMS website. Additionally, SHL remains eligible as a PDP sponsor for its current auto-enrolled Medicare and Medicaid beneficiaries in California and Nevada, and for its current and 2007 auto-enrolled beneficiaries in Arizona, Colorado, Idaho, Oregon, Utah and Washington. SHL will no longer be a PDP sponsor for auto-enrolled beneficiaries in New Mexico and Texas. As of August 31, 2006, auto-enrolled members in New Mexico and Texas accounted for approximately 13% of SHL's total stand-alone PDP membership.

SHL will continue to offer both Sierra Nevada Spectrum, a Regional PPO plan, throughout Nevada, and Sierra Spectrum, a Local PPO plan, in Nevada and selected counties in Arizona and Utah. Both plans offer prescription drug coverage.

For the first time, SHL will offer Sierra Optima, a Medicare Advantage PFFS plan. The plan will be available in 28 states and the District of Columbia. Sierra Optima does not include Medicare Part D prescription drug coverage but does provide hospital and physician coverage. Members will pay a monthly premium, co-payments and coinsurance, with reasonable out-of-pocket maximum amounts. Members will also have unlimited network access.

HPN will continue to offer its Senior Dimensions (SD) Medicare Advantage HMO plan, in Clark, Washoe, Nye, Lyon, Mineral and Esmeralda counties in Nevada. SD members do not need to enroll in a stand-alone PDP because their benefit plan includes a comprehensive pharmacy benefit, as well as physician and hospital coverage.

Marketing for SierraRxSM, Sierra Nevada Spectrum, Sierra Spectrum, Sierra Optima and Senior Dimensions 2007 programs began October 1, 2006. The initial enrollment period begins November 15, 2006, and ends on March 15, 2007.

SierraRxSM (Stand-Alone PDP)

Alabama, Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia

Sierra Optima (Medicare Advantage-PFFS)

Alabama, Arizona, Arkansas, California, Colorado, District of Columbia, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nevada, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia

Sierra Health Services, Inc., based in Las Vegas, is a diversified healthcare services company that operates health maintenance organizations, indemnity insurers, preferred provider organizations, prescription drug plans and multi-specialty medical groups. Sierra's subsidiaries serve over 800,000 people through health benefit plans for employers, government programs and individuals. For more information, visit the Company's website at www.sierrahealth.com.

Source: Business Wire

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