SilverScript Insurance Company, a CVS Health Company, Introduces New Medicare Prescription Drug Plan Options for 2018

By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- SilverScript Insurance Company, a CVS Health (NYSE: CVS) company, announced its new Medicare Prescription Drug Plan (PDP) options for 2018. Medicare beneficiaries in the continental U.S. can choose from two SilverScript plans that offer a $0-deductible in 47 states on formulary drugs in all five drug tiers. Drug tiers indicate the level of cost-sharing for a covered drug, for example, beneficiaries typically pay lower copays for drugs in lower tiers. In addition, beneficiaries will have $0 copays for 90-day supplies of Tier 1 drugs when using CVS Caremark Mail Service Pharmacy and lower premiums than 2017 in 48 states (see also Insurance Companies).

"For 2018 we have worked to reduce premiums for the majority of SilverScript plans across the country and to provide beneficiaries in our plans with continued access to a $0-deductible for drugs on all tiers," said Todd Meek, president, SilverScript Insurance Company, CVS Health.

SilverScript Choice and SilverScript Plus

SilverScript Choice is a basic plan that offers comprehensive coverage with competitive premiums, $0 deductible on all covered drugs in 47 states, and $0 copays for 90-day supplies of Tier one drugs nationwide when filled through the CVS Caremark Mail Service Pharmacy. New to the SilverScript Choice Plan this year, beneficiaries managing diabetes can take advantage of significant savings on long-acting insulin drugs. In fact, for 2018, three injectable insulin medications will be covered in Tier 2; down tiered from Tier 3 in 2017. This may represent a potential savings of up to 60-75 percent (compared to 2017 copays for 30-day supplies) for each prescription filled for these drugs during Medicare's Initial Coverage Stage.

SilverScript Plus is an enhanced plan that provides additional coverage in the Coverage Gap (or Donut Hole). The Plus plan is designed for people who take several medications on a regular basis and are likely to reach the Coverage Gap during the 2018 plan year. SilverScript Plus offers lower monthly premiums than in 2017, $0 deductible on all covered drugs, and $0 copays for 90-day supplies of both Tier 1 and Tier 2 drugs nationwide through the CVS Caremark Mail Service Pharmacy. SilverScript Plus beneficiaries can also save on their drug costs by using a preferred pharmacy in a network that includes more than 37,000 retail pharmacies, including national leading chains, plus thousands of regional and local independent pharmacies across the country.

SilverScript Awarded 4-star High Performer Rating Issued by CMS

SilverScript maintained its 4-star performance rating from CMS for 2018, surpassing industry standards in delivering value, clinical outcomes and customer service. CMS annually evaluates and rates plan performance of Medicare Part D prescription drug plans based on quality, value and service measures. Plans are scored on a scale of one to five, with five stars being the highest achievable rating.

"We are proud to achieve a 4-Star rating from CMS, and we are focused on continued improvement as we strive to maintain our performance and quality rating," added Mitch Betses, executive vice president, member services, CVS Health. "As an objective tool, the CMS Star Ratings system is a helpful way for Medicare eligible individuals, who are making annual coverage elections, to easily identify which prescription drug plans will offer high quality service and value and be assured of industry-leading coverage."

Enrollment during the Medicare Annual Enrollment Period for the 2018 plan year runs from October 15, 2017 through December 7, 2017. Consumers interested in learning more about the SilverScript plan options can visit www.silverscript.com, or call toll-free 1-866-552-6106, 24 hours a day, 7 days a week. TTY users call 1-866-552-6288.

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