Aetna Inc. and CVS Caremark Corp.'s retail division said they are teaming up to co-brand a new Medicare prescription drug plan, following in the footsteps of other health insurers that have partnered with big drugstores.

The Aetna CVS/pharmacy Prescription Drug Plan will be available in 43 states and Washington, D.C., for those using the federal health insurance for seniors. The program's cost will be a $26 monthly plan premium, with no deductible, for generic drugs. The companies said the plan would help lower copayments for its users.

Seniors may use the plan at 7,200 CVS/pharmacy locations and more than 65,000 pharmacies in Aetna's Medicare network.

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