SilverScript Medicare Part D Review

Licensed Insurance Agent and Medicare Expert Writer
March 09, 2020

Preferred Pharmacies:

  • CVS
  • Walmart
  • Mail order: CVS
  • Caremark

The CVS-owned brand SilverScript is a Part D giant. Around since Part D’s inception in 2006, SilverScript covers over six million Medicare beneficiaries, selling Part D plans in all 50 states.1 Each state (apart from Alaska) has two SilverScript plans to choose between: SilverScript Choice (PDP) and SilverScript Plus (PDP).

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FYI: During Aetna’s merger with CVS, Aetna sold its Medicare Part D program to WellCare in 2018 so the merger could overcome government scrutiny. Now that we’re post-acquisition, Aetna doesn’t technically own a PDP program. However, that doesn’t keep Aetna from advertising SilverScript—Aetna’s parent company’s PDP Program—on its site. We found that to be a bit questionable.

Who might want a SilverScript Part D plan?

  • CVS/Walmart customers: Those who already shop at CVS or Walmart won’t need to change their routine to find a preferred pharmacy.
  • Seekers of low (or no) deductibles: One of SilverScript’s plans doesn’t require a deductible before drug coverage begins, and the other plan has a $0 deductible on Tier 1 and Tier 2 generics.
  • Those who prefer home delivery: CVS Caremark delivers medications to your home for the same price as you’d pay in person at a preferred pharmacy.

SilverScript Part D prescription drug plans

SilverScript does one thing and one thing only: Part D. For such a large provider, it may be surprising that it offers just two plan options for Medicare recipients. But this lack of options can make deciding between two plans easier if you already know you prefer SilverScript.

SilverScript Part D Plan Comparison

SilverScript Choice (PDP)
SilverScript Plus (PDP)
Premium $21–$58 $57–$101
Deductible (Tier 1 and 2) $0 $0
Deductible (Tier 3–Tier 5) $215–$435 $0
Tier 1 (preferred generics) $0 $0
Tier 2 (generic drugs) $1 $2
Tier 3 (preferred brand drugs) $47 $47
Tier 4 (non-preferred brand drugs) 38% 47%–50%
Tier 5 (specialty drugs) 25%–29% 33%

Sample plans based on SilverScript.com and are for illustration purposes only. Actual plans may vary. All drug prices assume the prescription is filled at a preferred retail pharmacy for a 30-day supply. Data effective 1/29/20.


Compare your medications to SilverScript’s drug formulary to find out which tiers they fall into.


SilverScript Choice (PDP)

SilverScript Choice is the company’s most popular plan, and one of the most popular Part D plans in the country.2

Enrollees in SilverScript Choice will need to pay between $215 and $435 (the maximum deductible allowed by Medicare3) before SilverScript covers drug costs. However, this deductible applies only to brand name and specialty drugs—Tier 3 through Tier 5. If you rely mostly on generic medications (Tier 1 or Tier 2), you won’t need to meet a deductible before your drug coverage begins.

The Choice plan boasts lower premiums than the Plus plan, so if you want low monthly costs and primarily take generic medications, SilverScript Choice may be a good fit for you. However, you can’t know for sure what this plan will cost until you compare the medications you take with the plan’s formulary.

SilverScript Plus (PDP)

SilverScript Plus charges higher premiums than SilverScript Choice but is accompanied by a zero-dollar deductible on all Tiers. With a zero-dollar deductible, you get first-dollar coverage on every medication listed in the formulary. SilverScript Plus also protects enrollees who fall into the donut hole: during the coverage gap, generic medications (Tier 1 and Tier 2) are the same price as they are in the initial coverage stage.

For that reason, if you know you’re going to enter the coverage gap, the SilverScript Plus plan may be a good choice for your Part D needs. SilverScript Plus could also be viable for people with medications that fall in Tier 3 through Tier 5, as enrollees won’t need to meet a deductible before coverage starts. Unfortunately, SilverScript doesn’t sell the Plus plan in Alaska (but Alaskans can still enroll in SilverScript Choice).

Of course—and we can’t stress this enough—the only way to know if a plan works best for you is to compare your medications to the plan’s formulary.

Bottom Line: Convenient coverage nationwide

With two plans available in almost every state (sorry, Alaska), SilverScript may be worth considering. You may be even more on board if you're a fan of CVS or Walmart—or at least live close to one—as SilverScript counts both businesses as preferred pharmacies.

People who have trouble getting around may enjoy CVS's mail-order pharmacy, Caremark, which delivers meds to your door for the same price you’d pay in-store. Overall, SilverScript seems to provide great convenience. But to really know if SilverScript’s plans could be a good fit for you, be sure to compare your medications to SilverScript’s formulary.

Or, if that seems daunting, a licensed agent can find other plans available in your area and help you sign up for the one that covers your medications best.

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Want to learn more?

If you came here after learning about Aetna, see how the new owners of Aetna's Part D program shape up to the competition.

Or, learn more about Part D in general.

SilverScript FAQ

Is SilverScript Medicare Part D?

Medicare Part D is the part of Medicare that covers prescription drugs. Medicare regulates Part D, but private companies sell the Part D plans themselves. SilverScript is one of those private companies that sells two Medicare Part D plans: SilverScript Choice and SilverScript Plus.


Sources

  1. SilverScript, “About SilverScript® Insurance Company
  2. SilverScript, “2020 Plan Decision Guide
  3. Medicare.gov, “Yearly Deductible for Drug Plans

Content on this site has not been reviewed or endorsed by the Centers for Medicare & Medicaid Services, the United States Government, any state Medicare agency, or any private insurance agency (collectively "Medicare System Providers"). Eligibility.com is a DBA of Clear Link Technologies, LLC and is not affiliated with any Medicare System Providers.

Written by
Alex Enabnit
Medicare and geriatric care expert, Alex has one motivation behind every word he writes, and that’s finding you the best medical coverage for your situation. Alex has been featured on Bloomer Boomer, Best Company, HealthPopuli.com, the Daily Ledger on the One America News Network, WBAP News radio, and more. Outside of work, you can find him hiking with his wife and pup or (occasionally) going to the gym.
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