SilverScript is a Medicare Part D carrier with plans available in all 50 states. This company offers comprehensive Medicare Part D prescription drug plans with extensive coverage and low premiums.
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Millions of Medicare seniors utilize SilverScript prescription drug benefits each year. With some of the most affordable prescription drug coverage on the market, SilverScript is ideal for those on Medicare who want a Medicare Part D plan that won’t break the bank.
What is SilverScript?
SilverScript is a private Medicare Part D insurance company that offers prescription drug coverage to those with Original Medicare. The carrier offers coverage options in all 50 states and Washington D.C.
SilverScript offers three different coverage choices to those eligible for Medicare Part D. When you enroll in a SilverScript plan, you receive several benefits not included with any other carrier.
Medicare Part D plans through SilverScript offer low monthly premiums and copayments. Further, they provide coverage at thousands of pharmacies nationwide.
Even with changes to the SilverScript formulary each year, prescription drug plans through this carrier provide excellent coverage and competitive prices.
Who Owns SilverScript?
SilverScript is a Medicare Part D carrier owned by CVS Health. In 2019, CVS acquired SilverScript Medicare Part D plans. CVS Health is one of the nation’s largest pharmacy innovation companies with a mission to help its clients obtain better healthcare.
With close to 10,000 retail locations and over 1,000 walk-in clinics across the country, CVS Health offers convenient healthcare close to home. By acquiring SilverScript, CVS Health can expand its reach in the healthcare industry by venturing into Medicare Part D.
Is SilverScript Part of Aetna?
In January 2020, SilverScript Medicare Part D plans merged with Aetna. When the companies merged under the guidance of their parent company, CVS Health, members experienced plan changes and extended benefits.
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When the two companies merged, there was no interruption in coverage. Those originally on an Aetna or SilverScript Medicare Part D plan automatically transitioned to one of the three Aetna SilverScript Medicare Part D plans.
Aetna SilverScript Prescription Drug Plans
SilverScript offers three different Medicare Part D plans.
When comparing SilverScript drug plans, you should know the following information.
- Your prescription medication(s) and dosage(s)
- How often you take your medication(s)
- Out-of-pocket expenses, such as copays
- How much you are willing to pay in annual deductibles
By creating a game plan at the start of your Medicare Part D plan search, you can ensure you get the prescription drug coverage you need.
SilverScript Formulary 2023
When shopping for prescription drug coverage, you should know your medications and how the available Medicare Part D plans would cover them. This way, you can enroll in a plan that covers the prescriptions you need.
A formulary is a master list of prescription drugs that have coverage under a specific policy. You can find the formulary for each plan on SilverScript’s website or contact a licensed Medicare agent to help you make sense of plan details.
Sometimes a Medicare Part D plan may not cover your specific medication. However, a formulary alternative could be available. Your doctor may consider a replacement if they feel it’s appropriate. Otherwise, you could request a formulary exception, which means your drug may receive coverage from the plan with approval.
SilverScript may make occasional changes to its formularies, so reviewing your prescription drug coverage each year during the Annual Enrollment Period is essential. Doing so will ensure you are on the best coverage year after year.
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SilverScript Drug Prices for 2023
| Tier 1 | Initial Coverage | Coverage Gap (Donut Hole) | Catastrophic Coverage | ||||
| Generic | Brand | ||||||
| SilverScript SmartSaver Rx (PDP) | $2 Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Choice (PDP) | $2 Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Plus (PDP) | $0 Copay | $0 Copay | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| Tier 2 | Initial Coverage | Coverage Gap (Donut Hole) | Catastrophic Coverage | ||||
| Generic | Brand | ||||||
| SilverScript SmartSaver Rx (PDP) | $15 Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Choice (PDP) | $7 Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
| SilverScript Plus (PDP) | $0 Copay | $0 Copay | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
| Tier 3 | Initial Coverage | Coverage Gap (Donut Hole) | Catastrophic Coverage | ||||
| Generic | Brand | ||||||
| SilverScript SmartSaver Rx (PDP) | 25% Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Choice (PDP) | 17% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Plus (PDP) | $47 Copay | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
| Tier 4 | Initial Coverage | Coverage Gap (Donut Hole) | Catastrophic Coverage | ||||
| Generic | Brand | ||||||
| SilverScript SmartSaver Rx (PDP) | 40% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Choice (PDP) | 37% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
| SilverScript Plus (PDP) | 50% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
| Tier 5 | Initial Coverage | Coverage Gap (Donut Hole) | Catastrophic Coverage | ||||
| Generic | Brand | ||||||
| SilverScript SmartSaver Rx (PDP) | 25% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Choice (PDP) | 25% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5% (whichever is more) | |||
| SilverScript Plus (PDP) | 33% of Retail Cost | 25% of Retail Cost | $4.15 or 5% (whichever is more) | $10.35 or 5%(whichever is more) | |||
SilverScript SmartSaver Rx (PDP)
The SilverScript SmartSaver Rx (PDP) is a lower premium option with a $0 Tier 1 deductible. Also, Tier 1 drugs require a $2 copay on this plan, making it an excellent choice for those with only generic medications.
Key takeaways about the SilverScript SmartSaver Rx (PDP):
- Lowest national average Medicare Part D premium
- $0 deductibles and copays as low as $2 for 30-day supplies
Those who take few medications, or all generic prescriptions benefit the most from the SilverScript SmartSaver Rx (PDP). Thus, SilverScript SmartSaver Rx (PDP) is best for those who are generally healthy and active. As the plan with the lowest monthly premium nationwide, this coverage is great for those who wish to avoid the Medicare Part D late enrollment penalty.
SilverScript Choice (PDP)
The SilverScript Choice (PDP) offers extensive prescription drug coverage. This policy provides a $0 deductible for Tier 1 and 2 medications.
SilverScript Choice (PDP) also includes delivery of your Tier 1, 2, and 3 prescriptions. This is an excellent plan for those taking low to mid-tier medications and generics.
Key takeaways about the SilverScript Choice (PDP) :
- Copays as low as $2
- Zero deductible for Tier 1 and Tier 2 drugs
- $0 premium and low cost-sharing if you qualify for Extra Help
Those who take brand-name or Tier 1 drugs can benefit from the SilverScript Choice (PDP). This option is suitable for those who wish to have low copays for common prescriptions.
While it is not the best plan for everyone, those whose prescriptions change over time may benefit the most from this option.
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SilverScript Plus (PDP)
The SilverScript Plus (PDP) offers a $0 deductible for medications on all tiers. The policy has even more drug coverage than the SilverScript Choice (PDP), and you can get your prescription drugs delivered at no additional cost. This prescription drug plan is a fantastic option for those who take high-tier drugs.
Key takeaways about the SilverScript Plus (PDP):
- More drugs that Medicare Part D covers are on the formulary
- A variety of prescription minerals, vitamins, and erectile dysfunction drugs
Those who take high-tier and specialty medications can benefit from SilverScript Plus (PDP). Also, if you take several medications or have health conditions that require expensive drugs, you may benefit from this plan.
However, this is not your best policy if you take primarily generic drugs. Low-cost, typical drugs are more expensive on this plan due to the formulary.
Is SilverScript a Good Drug Plan?
SilverScript is one of the best Medicare Part D carriers available. In addition to being one of the popular companies in terms of enrollment, the policies also provide extremely low drug costs and monthly premiums.
Depending on your prescriptions, SilverScript tends to outshine other carriers when you compare prices for generic and low-tier drugs. For more expensive medications, it is vital to research and compare plans, as there may be a more cost-effective option depending on your prescription drugs. Overall, it is difficult to beat SilverScript Medicare Part D plans.
How Much Does SilverScript Cost Per Month?
Each SilverScript Medicare Part D plan has a different monthly premium. Additionally, SilverScript monthly premiums vary by ZIP Code.
However, the SilverScript SmartSaver Rx (PDP) is the lowest-cost Medicare Part D plan in many areas. The plan starts as low as $5 per month.
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The SilverScript Medicare Part D plan with the higher monthly premium is the SilverScript Plus (PDP). The monthly premium for this plan starts at $70.
What Pharmacies Does SilverScript Use?
SilverScript allows you to utilize thousands of pharmacies nationwide to receive your prescription drugs. The SilverScript pharmacy network includes over 65,000 pharmacies in the United States. Most chain pharmacies will accept your SilverScript Medicare Part D coverage.
However, not all pharmacies are preferred. A preferred pharmacy allows you to receive the drug at the lowest cost possible. Standard network pharmacies still provide coverage at a slightly higher price than preferred pharmacies.
SilverScript Preferred Pharmacies
- Walmart
- CVS
- Wegmans
- Kroger
- Publix
- Plus, local pharmacies nationwide
SilverScript Standard Pharmacies
- Walgreens (This pharmacy is out-of-network for the SmartSaver Rx plan)
- Sam’s Club
- Plus, local pharmacies nationwide
Utilizing a preferred pharmacy is vital to receive drugs at the lowest cost.
SilverScript Mail Order Pharmacy
Many people prefer utilizing mail-order pharmacy services. Mail-order can be especially beneficial when you cannot leave your house to pick up prescriptions.
You can have your medication sent to your home or place of employment. SilverScript Choice (PDP) and SilverScript Plus (PDP) members can use this service.
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The Aetna SilverScript mail order pharmacy is one of the highest-rated mail order pharmacies for a Medicare Part D plan. When you opt-in to receive your drugs through the mail-order pharmacy, you can get up to 90-day prescriptions. Thus, it allows you to reduce hassle by decreasing the number of times you must order your medications.
Anyone with a SilverScript Rx plan can utilize the mail-order pharmacy. The COVID-19 pandemic has taught us that convenience does not have to be forced. Mail-order pharmacies do just that. They allow you the comfort and peace of mind that your drugs will always arrive on time.
How Do I Sign Up for SilverScript?
To enroll in a SilverScript Medicare Part D plan, it is essential to speak with a licensed Medicare agent who has access to the carrier and is familiar with each plan’s benefits. While speaking with an agent, you can ensure the coverage you choose will provide your prescriptions at a low cost.
Your prescription drugs will determine which SilverScript Medicare Part D plan is best for you. Once you choose a policy, you must provide your Medicare card and other demographic information to complete the application.
If this is your first time enrolling in Medicare, your Medicare Part D plan becomes effective with your Medicare Part A and Part B. If you sign up during the Annual Enrollment Period, your new coverage will begin on January 1.
Remember, if you have a Medicare Advantage plan, you cannot enroll in a SilverScript Medicare Part D plan. You can only enroll in Medicare Part D if you have Original Medicare, with or without a Medicare Supplement plan.
How Do I Pay SilverScript Online?
Paying for your SilverScript Medicare Part D plan has never been easier. Most seniors who enroll in Medicare Part D decide to have the monthly premium automatically deducted from their Social Security check each month. This way, they will never accidentally miss a payment and lapse their coverage.
If you do not receive Social Security or do not wish to have your payment automatically deducted, you can pay your monthly premium online. To do so, you will need to visit AetnaMedicare.com and create a log-in. You can pay your bill, check your claims, and more.
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SilverScript Payment Portal
SilverScript has a unique and convenient online portal through CVS Caremark. Caremark is an online platform that allows you to check your pharmacy benefits and more.
The portal also allows you to:
- Review current prescriptions
- Check on the status of your order
- Review your drug coverage
- Check on medication costs.
The Caremark portal will let you gain valuable information with ease. In addition, the Caremark portal also lets you order drugs through the online pharmacy.
Through the portal, you can check and compare your drug costs, view your savings opportunities, understand your plan benefits, review coverage details, and find answers to SilverScript FAQs.
SilverScript Reviews
SilverScript has a Medicare Star Rating of 3.5 out of 5, which is a fantastic score. Medicare scores prescription drug plans on their performance and quality annually. Customer satisfaction also largely influences the rating of each plan.
SilverScript offers excellent, 24-hour customer service. A prescription drug plan through this carrier also comes with many online tools.
SilverScript earns a B+ rating through the Better Business Bureau for customer reviews. Several customer reviews mention the low drug costs and affordable monthly premiums as selling points for this company.
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How to Apply for Medicare Part D Through SilverScript
When you're ready to sign up for a SilverScript plan, we're here to help make the process as easy as possible. Our licensed Medicare agents will walk you through the online application to ensure it is correct the first time.
To get started with your SilverScript Medicare Part D plan today, give us a call at the number above, or complete our online rate form. We look forward to finding the best Medicare Part D coverage for you!
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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.
- Silverscript, Aetna. Accessed May 2022.
https://www.silverscript.com/ - Medicare Part D, Aetna . Accessed May 2022.
https://www.aetnamedicare.com/en/compare-plans-enroll/part-d-prescription-drug-plans.html
Does Sikver Script cover the Shingles shots?
Hi Carolyn! Yes, your Part D plan will cover the Shingles vaccine.
I have friends that have silver script and they had to pay for their shingles shots. I also have Silver Script and need to get the shots, but can’t afford to pay $200 for each shot.
Hi Shirley! Part D plans do come with an annual deductible, it sounds like in both scenarios that deducible may not have been met yet. We have more information on coverage for the Shingles vaccine that may help answer your question.