If you’re on Medicare and in need of a rx plan, you’ve likely run across the SilverScript Part D prescription drug insurance plan.
It’s very competitively priced in most states and offers reasonable copays on many common drugs.
We help our Medicare clients enroll directly in the SilverScript Choice plan when it’s a suitable option. (We also offer Part D coverage from several other carriers.) And that’s the point – one plan does not fit all with these policies. It is wise to compare your options before enrolling in a plan. (Agents: click here to become appointed.)
Low Cost SilverScript Part D Drug Plans
The most popular SilverScript policy is their Choice plan. In most states, it is near $20 a month, but can be less. They also offer a Plus plan that is near $75 a month and would be more appropriate for those on several prescriptions.
The Choice plan is popular not only for it’s low monthly premiums, but also because it has no annual deductible for 2016. Many low cost Part D plans have a $360 deductible, so avoiding this initial outlay is beneficial for those on some brand name drugs. The savings begins right away when there’s no deductible.
Nationwide Network Of Preferred Pharmacies
Additionally, SilverScript members benefit from a large nationwide network of well-known pharmacies like: CVS, Costco, Giant Eagle, Kroger, Publix, Rite Aid, Safeway, Sam’s Club, Target, Wegmans, Walgreens, Walmart, Winn Dixie and many, many others. There are nearly 68,000 altogether!
With some Medicare Part D providers, you can only get the lowest prices at a small handful of pharmacies. That’s not the case with SilverScript which has several options, both large and small. This is helpful for those living in rural areas and those who spend significant time in more than one state.
They also offer mail order as an option if you would rather have a 90 day supply of your prescription delivered to your home. Whether you fill at your local pharmacy or by mail order, requesting a 90 day supply (when allowed) can lower your copays.
Low Prescription Drug Copays And Out Of Pocket Costs
When shopping for a Part D plan, you’re shopping for more than just the monthly premiums in most cases. It’s the total picture you want to review. This includes premiums, deductible if any, drug copays and the pharmacy you prefer.
In other words, it doesn’t matter if the premiums are low if the copays are very high. Fortunately, the SilverScript Choice plan has very low copays on the most common prescriptions. It won’t be the best fit for everyone, but it can be a good choice for those on generics and preferred name brand drugs. In fact many generics are $3-$5 a month; or less via 90 day supply.
The Choice plan can also be a good fit if you’re taking no prescriptions at all. Unless you have creditable drug coverage elsewhere, you may want to purchase a Part D plan to avoid the Late Enrollment Penalty (LEP) in the future. In many areas of the country, SilverScript will offer some of the lowest monthly premiums available.
It’s also important to see if you qualify for the Low Income Subsidy (LIS) program. Those with incomes below certain thresholds, will qualify for lower monthly premiums and drug copays without any reductions in coverage.
Contact Us For Quotes, Information And Enrollment
It’s important to know there are no Medicare supplement plans sold today offering prescription Part D insurance plans. SilverScript can be a good fit for those looking for a low cost Medicare drug plan with a large nationwide network of pharmacies to pair with their Medigap policy. Contact us today to learn more.