The most expensive policies will not always offer the best coverage for your needs. When shopping for a prescription drug plan to pair with your Medicare coverage, knowing the best Medicare Part D plans for 2023 is invaluable. However, it is important to note that there is no single best plan. So, you’ll want to find the best plan that covers your needs. With this information, you can maximize your prescription drug benefits.
The older you get, the more likely you will require prescription drugs in your daily routine. Medications can be costly, and new brand-name drugs can be the most expensive. Medicare Part D plans help cover the costs of these prescriptions.
Multiple Medicare Part D options are available from various carriers nationwide, so choosing one can be complicated. Thus, we compiled a list of the top 5 best Medicare Part D plans for 2023.
Policies vary by county, so moving may warrant a plan change. With this in mind, it is crucial to understand all Medicare Part D plans available to you and be educated on the highest-rated plans on the market today.
Best Medicare Part D Plans for 2023
How Do Ratings Work for Medicare Part D Plans?
Medicare Part D plans are rated on a five-star scale. However, a five-star policy in your area may not be a top-rated plan across the country.
Ratings vary by ZIP Code, just like the plan offerings themselves. Based on an average nationwide rating, we list the top five carriers offering the best Medicare Part D plans for 2023.
Note that no one plan will fit everyone’s needs. The best plan for you could be the worst for your spouse or neighbor, and vice-versa. Ensuring your plan brings you value for the drugs you need is essential to selecting the best Medicare Part D coverage for you.
- SilverScript SmartSaver
- SilverScript Choice
- SilverScript Plus
|SilverScript Medicare PDP||Average Monthly Premium||Recommended for those who|
|SmartSaver||$5.92||Take no medications or a few generic medications|
|Choice||$33.60||Take a few generic medications or mid-tier medications|
|Plus||$75.58||Take brand-name or high-tier medications|
It is no surprise that SilverScript policies make the list of the top 5 best Medicare Part D plans for 2023. Although costs vary by ZIP Code, the average nationwide monthly premium for the SmartSaver plan is only $5.92, making it the most affordable Medicare Part D plan this carrier offers. Meanwhile, the Choice plan averages $33.60 monthly, and the Plus plan averages $75.58 monthly.
Each SilverScript plan is an excellent option for coverage. However, depending on your medications, one could be more beneficial for you than the other.
For example, someone with a few generics may find the Plus plan more insurance than they need and gravitate towards the SmartSaver plan. On the contrary, a person with many brand-name drugs could discover that the SmartSaver plan does not cover their brand-name drugs as well as the Plus plan would.
SilverScript Network Pharmacies
The preferred pharmacies with SilverScript vary by policy. However, the differences are not too significant. The SmartSaver plan’s preferred pharmacies include CVS, Walmart, and thousands of independent drug stores throughout the U.S. Furthermore, the Choice and Plus plans add Publix, Kroger, and Albertsons to their list of preferred pharmacies.
If you want to eliminate the hassle of driving to the pharmacy, all SilverScript prescription drug plans offer CVS Caremark Mail Service Pharmacy as an option. Additionally, this mail-order pharmacy is a preferred pharmacy option on all three plans.
SilverScript Overall Review
SilverScript rightfully earns the top spot on this list. With excellent customer service, low out-of-pocket costs, and a high customer satisfaction rating, there is likely a SilverScript plan to meet everyone’s needs.
- Walmart Value Rx Plan
- Basic Rx Plan
- Premier Rx Plan
|Humana Medicare PDP||Average Monthly Premium||Recommended for those who|
|Walmart Value Rx||$32.50||Take a few generic medications|
|Basic Rx||$45.05||Take several generic medications or a few mid to high-tier medications|
|Premier Rx||$84.65||Take multiple brand-name or high-tier drugs|
Humana is number two on our list of the top 5 best Part D plans for 2023. The Humana Walmart Value Rx Plan is excellent for someone with very few generic medications or certain name-brand medications.
The Basic plan is best for those taking a few more maintenance medications that are both generic and name-brand. On the other hand, the Premier Plan is best for those who take higher-tier drugs for which they need a higher level of coverage.
Humana Network Pharmacies
Preferred pharmacies on Humana’s network are easy to remember: Walmart, Sam’s Club, and thousands of local drug stores. Humana policyholders also have access to Humana Pharmacy.
Humana’s mail-order pharmacy, Humana Pharmacy, offers the lowest possible drug costs through this carrier. Additionally, a lookup tool is available on the Humana mobile app. With this app, you can find a complete list of Humana pharmacies.
Humana Medicare Part D Overall Review
Humana offers $0 copayments for many generic drugs on all their plans, which is an excellent option for someone primarily using generics. All three plans have a $505 deductible that you can quickly meet if you take higher-tier drugs. With an option for everyone, Humana Medicare Part D plans could potentially save you the most money in 2023.
- Mutual of Omaha Rx Premier
- Mutual of Omaha Rx Plus
|Mutual of Omaha Medicare PDP||Average Monthly Premium||Recommended for those who|
|Rx Essential||$18.30||Take generic or no medications on a regular basis|
|Rx Premier||$73.70||Take several generic medications or mid-to-high-tier medications|
|Rx Plus||$79.80||Take several brand-name medications|
Mutual of Omaha Insurance Company takes the third spot on our list of the top 5 best Medicare Part D plans for 2023. With an average monthly premium of $18.30, the Rx Essential policy has no deductible for medications in the first two tiers at preferred pharmacies. However, this plan has a $505 deductible on all other tiers.
Averaging $73.70 monthly, the Plus Premier has a $505 deductible for all tiers. However, the Plus plan covers a broader range of drugs.
Lastly, the Rx Plus plan offers excellent coverage to those who take several brand-name medications and low copayments for generic drugs on other tiers. This plan has an average monthly premium of $79.80.
Mutual of Omaha Network Pharmacies
This carrier’s preferred pharmacy network is the same for both plans. CVS, Target, Sam’s Club, Walmart, and many regional drug stores are on the list of preferred pharmacies with Mutual of Omaha.
Mutual of Omaha Medicare Part D Overall Review
Mutual of Omaha has been in the insurance industry since before Medicare began. Those looking for a reliable carrier can find benefits through this company.
With one of the most highly-rated customer service departments, this top Medicare insurance company helps many people daily. By offering plans for various coverage levels, they can assist even more.
- AARP Medicare Rx Walgreens Plan
- AARP Medicare Rx Saver Plus Plan
- AARP Medicare Rx Preferred plan
|UnitedHealthcare Medicare PDP||Average Monthly Premium||Recommended for those who|
|AARP Medicare Rx Walgreens Plan||$28.20||Take generic medications|
|AARP Medicare Rx Saver Plus Plan||$64.40||Take many name-brand drugs or mid-tier medications|
|AARP Medicare Rx Preferred Plans||$109.60||Take many name-brand and high-tier medications|
UnitedHealthcare is next on our list of the top 5 best Medicare Part D plans for 2023. Those with a shorter list of generic medications will benefit from the Walgreens Plan, and those with higher-tier, brand-name drugs will find their most significant coverage on the Preferred Plan. Yet, the Saver Plus Plan may be best for you if you are somewhere between.
UnitedHealthcare Preferred Pharmacy
For UnitedHealthcare Medicare Part D beneficiaries, preferred pharmacies differ by plan. The Walgreens Plan offers the smallest pharmacy network, with Walgreens being the only preferred pharmacy. Yet, the Preferred Plan and Saver Plus plan networks include pharmacies like Publix, Walmart, and Walgreens. Several other in-network pharmacies provide coverage at a slightly higher price.
UnitedHealthcare Medicare Part D Overall Review
UnitedHealthcare has a wide range of insurance products and boasts an excellent track record with customers. As the table above shows, this carrier’s plans generally cost more than most others. Yet, this company is your best option if you can only find your drugs on one of their Medicare Part D formularies.
- Cigna Saver Rx
- Cigna Secure Rx
- Cigna Extra Rx
|Cigna Medicare PDP||Average Monthly Premium||Recommended for those who|
|Saver Rx||$12.10||Take mostly generic medications|
|Secure Rx||$35.48||Take a few generic medications or mid-tier medications|
|Extra Rx||$63.59||Take brand-name or high-tier medications|
The Saver Rx policy is the lowest premium option, and the Extra Rx has a higher premium than the other two. As with all Medicare Part D plans, no single option will be best for everyone.
To find the most suitable coverage, you must compare all available plans. Those with multiple brand-name medications needing coverage in the Medicare Part D donut hole could benefit from a Cigna-HealthSprings Secure-Extra policy.
Cigna Medicare Part D Preferred Pharmacies
For its network, Cigna contracts with over 63,000 pharmacies nationwide. Preferred pharmacies include Kroger, Rite Aid, Walmart, Sam’s Club, Walgreens, and more. Consider enrolling in their mail-order pharmacy program through Express Scripts for the most savings.
Cigna Medicare Part D Overall Review
The biggest highlight of Cigna’s prescription drug plans is the pharmacy network. This carrier’s multiple plan options provide coverage for thousands of drugs. However, drug prices may not be as low as those through some other carriers.
However, convenience often warrants a higher cost. Still, if this carrier has your lowest annual out-of-pocket expenses, it will be worth the enrollment.
MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.
- Our Plans, Mutual of Omaha . Accessed November 2022.
- Silverscript, Aetna . Accessed August 2023.
- Humana 2023 Medicare Part D Plans, Humana . Accessed November 2022.
- Medicare Prescription Drug (Part D) Plans from UnitedHealthcare, AARPMedicarePlans. Accessed November 2022.
- Medicare Part D Prescription Coverage, Cigna . Accessed November 2022.