SilverScript is a part of the CVS Health family of companies, and was developed in 2006 as an insurer to help launch the Part D program. As well as being a provider of one of the best Medicare Part D plans, the CVS connection means that potential customers also enjoy the benefits of 9,800 retail locations, and around 1,100 walk-in medical clinics.
CVS insurance products serve around 94 million customers and their dedicated pharmacy care business for seniors serves more than a million patients per year.
SilverScript historically had three Part D plans available to customers, but for 2020 they have narrowed it down to two plans, which nevertheless should be a fit for most people. Their customer service agents are especially well informed when it comes to explaining the various parts of Medicare Part D plans, as this is the only product that SilverScript sells.
Obviously the CVS connection means that the network is large, and there are plenty of value-added parts to the service in general, from online tools to a convenient mail delivery service. The SilverScript website is also very easy to use, with clear links to details of each plan and handy side-by-side comparisons to help make the choice that much easier.
The Medicare quote process takes seconds and only requires the submission of a zip code – not a list of personal information. The quote process didn't entail any follow-up sales calls from commercial partners, either.
SilverScript Medicare Rx review: Cost
- Starting at $29 per month
- Going up to $84.50 per month
There will of course be some discrepancies and variables in prices when looking at quotes for individual Medicare Part D plans, dependant on the customer’s personal information and geographic location. However, we took as our standard a married, middle-aged man without any pre-existing conditions living in Louisiana. The plans are explained in more detail below, but the quotes we were given were as follows:
SilverScript Choice, the entry-level plan, comes with a $0 deductible for drugs in Tiers 1 and 2, with a $285 deductible for drugs in Tiers 3 to 5. The co-pay for Tier 1 drugs at preferred pharmacies is $0 and the co-pay for Tier 2 drugs at preferred pharmacies is $1. The monthly premium quoted was $29.00
SilverScript Plus, the more comprehensive plan, comes with a $0 deductible for drugs in Tiers 1 and 2, plus a $0 deductible for drugs in Tiers 3 to 5. The co-pay for Tier 1 drugs at preferred pharmacies is $0 and the co-pay for Tier 2 drugs at preferred pharmacies is $2. The monthly premium quoted was $84.50.
SilverScript Medicare Rx review: Products
- Choice of only two products
- Deductibles from $0 and low co-pays
SilverScript Medicare Rx: Key features
Extensive drug coverage Thousands of medications covered
Large pharmacy network Nationwide coverage, over 65,000 pharmacies
Low co-pays From $0 for Tier 1 drugs
SilverScript has two Medicare Part D plans that are available to potential customers, each with differing premiums, levels of benefits, deductibles and coverage. It’s a fairly basic, but helpful distinction between customers who have very basic medication needs and don’t usually need to get prescriptions compared to those who take a wide range of medications and are filling prescriptions regularly.
The details of each plan are laid out very clearly on the SilverScript website and it should be straightforward for potential customers to work out which is most suitable for them.
SilverScript Choice is the basic, entry-level plan that will probably be the more suitable option for most people. It has a low monthly premium (see above) and a $0 deductible for drugs in Tiers 1 and 2, covering most of the regular, non-specialist drugs that most people would need access to. These basic drugs also enjoy a $0 and $1 co-pay on Tiers 1 and 2 respectively.
The plan offers access to some 65,000 standard preferred pharmacies, so the coverage is good nationwide. There’s also a wealth of online tools in the members’ section of the website so that customers can keep track of their medications and the 24/7 customer support line is also very helpful.
SilverScript Plus is the more comprehensive plan, and is more suited to customers who perhaps take a wide range of medications that are more specialist than basic, everyday drugs. The monthly premiums are considerably higher, but this can be weighed against a $0 deductible for all drugs (Tiers 1 through 5), as well as $0 co-pay on Tier 1 drugs, and a $2 co-pay on Tier 2 drugs. The pharmacy access, online tools and customer support are all also included.
SilverScript Medicare Rx review: Features
- Good expert/specialist advice, available 24/7
- Online tools
- Large network of pharmacies
Other Medicare Part D plans to consider
Good expert/specialist advice
Since SilverScript focus almost exclusively on Medicare Part D plans, their customer service agents are very well trained in the various intricacies of plan details and can offer specialist advice that not all Part D vendors can. The advice lines are available 24 hours a day, seven days a week.
Keeping track of medications - especially if a customer takes a number of them and from different doctors and institutions, can be confusing. SilverScript has a good range of online tools that are available to their members and come with both of their Part D plans.
Large network of pharmacies
Being part of the CVS family of companies has its advantage, one of them being access to 65,000 in-network pharmacy partners across all 50 states, meaning excellent nationwide coverage. Obviously CVS pharmacies are part of this network.
SilverScript Medicare Rx review: What users say
- BBB rating of B+
SilverScript is not accredited with the Better Business Bureau but it does receive an B+ rating with the organization. CVS is also not accredited and also receives a B+ rating.
SilverScript Medicare Rx review: Verdict
SilverScript are Medicare Part D plan specialists, and this, together with being part of the CVS family of companies, puts them in good stead to assist potential customers with their initial enquiries. Although they only offer two plans, they are different enough to appeal to most customers, from those with basic, low-level medical requirements to those that take regular, multiple medications. The 24/7 customer service and the range of online tools to help with medication organization is also a good benefit to customers.
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