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Top 5 Best Medicare Part D Plans for 2023


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. With this information, you can maximize your prescription drug benefits.

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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 a variety of 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.

What are the Top 5 Best Medicare Part D Plans for 2023?

Top 5 Prescription Drug Plans

  1. SilverScript
  2. Humana
  3. Mutual of Omaha
  4. UnitedHealthcare
  5. Cigna

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. We list the top five carriers offering the best Medicare Part D plans for 2023 based on an average nationwide rating.

Note that no one plan will fit everyone’s needs. The best plan for you could be the worst plan 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 Medicare Prescription Drug Plans

  • SilverScript SmartRx
  • SilverScript Choice
  • SilverScript Plus
SilverScript Medicare PDP Average Monthly Premium Recommended for those who
SmartSaver Rx $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 top 5 best Medicare Part D plans for 2023. Although costs vary by ZIP Code, the average nationwide monthly premium for the SmartRx plan is only $5.92, making it the most affordable Medicare Part D plan this carrier offers. Meanwhile, the Choice plan averages $33.60 per month, and the Plus plan averages $75.58 per month.

Each SilverScript plan is an excellent option for coverage. However, depending on your medications, one could be more beneficial for you than the others.

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For example, someone with a few generics may find the Plus plan to be more insurance than they need and gravitate towards the SmartRx plan. On the contrary, a person with many brand-name drugs could discover that the SmartRx 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 SmartRx 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.

Humana Medicare Part D Plans

  • 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 Medicare 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.

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Humana Medicare Part D Overall Review

Offering $0 copayments for many generic drugs on all their plans, Humana is a great option for someone who primarily uses 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 Medicare Part D Plans

  • 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 per month, the Plus Premier has a $505 deductible that applies to all tiers. However, the Plus plan covers a broader range of drugs.

Lastly, the Rx Plus plan offers great coverage to those who take several brand-name medications as well as low copayments for generic and 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 each day. By offering plans for various coverage levels, they can assist even more.

UnitedHealthcare Medicare Part D Plans

  • 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, if you are somewhere between, the Saver Plus Plan may be best for you.

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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 displays, this carrier’s plans generally cost a bit more than most others. Yet, if you can only find your drugs on one of their Medicare Part D formularies, this company is your best option.

Cigna-HealthSpring Medicare Prescription Drug Plans

  • 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 has a higher premium than the other two. Like 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. For the most savings, consider enrolling in their mail-order pharmacy program through Express Scripts.

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 the lowest annual out-of-pocket costs for you, it will be worth the enrollment.

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How to Enroll in One of the Best Medicare Part D Plans

There are many choices for Medicare prescription drug plans in 2023. And, if you are eligible for Medicare, you can get Medicare Part D.

You should always consult with a licensed Medicare agent to ensure your drugs have coverage on the Medicare Part D formulary. Just because a plan is on our list of the top 5 best Medicare Part D plans for 2023 doesn't mean it will be the best plan to cover your drugs.

Our licensed agents can walk you through a needs analysis. This analysis will help you identify the best options in your service area.

Once you choose the best policy for you, they can guide you through the application and enrollment process. Additionally, when you work with us, you will have unlimited access to our customer care team, who can help with anything from ordering new Medicare cards to assisting with claims.

If you would like to compare rates in your area, call us at the number above or fill out our online rate comparison form and start saving money!

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Sources:

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.

  1. Our Plans, Mutual of Omaha . Accessed November 2022.
    https://www.mutualofomaha.com/prescription-drug-plan/our-plans
  2. Aetna Medicare Part D Plans Silverscript, Aetna . Accessed November 2022.
    https://www.aetnamedicare.com/sites/partd.html
  3. Humana 2023 Medicare Part D Plans, Humana . Accessed November 2022.
    https://www.humana.com/medicare/part-d-drug-plans?kc=0300035831
  4. Medicare Prescription Drug (Part D) Plans from UnitedHealthcare, AARPMedicarePlans. Accessed November 2022.
    https://www.aarpmedicareplans.com/shop/prescription-drug-plans.html
  5. Medicare Part D Prescription Coverage, Cigna . Accessed November 2022.
    https://www.cigna.com/medicare/shop-plans/part-d/

Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

60 thoughts on “Top 5 Best Medicare Part D Plans for 2023

  1. I’m looking for a prescription plan that will cover the drug Repatha injectables. What would be the best plan?

    1. Hi George! Most Part D plans will cover Repatha. Since each carrier offers different plans in each state, your location will determine what plan is best for you.

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