CVS Health's SilverScript Insurance offers two $0-deductible Part D plans
WOONSOCKET, R.I. - SilverScript Insurance Company, a CVS Health company, on Wednesday announced its new Medicare Prescription Drug Plan options for 2017. Medicare beneficiaries in the continental U.S. can choose from two SilverScript plans that offer a $0-deductible on formulary drugs in all five tiers, affordable copays and competitive premiums. In addition, SilverScript beneficiaries have access to a broad pharmacy network, with more than 66,000 participating pharmacies across the country, including national and regional chains and independently-owned, community-based pharmacies.
"Our plans are unique in that our beneficiaries will continue to have access to a $0-deductible for drugs on all tiers of the formulary, not just for lower-tier drugs that are primarily generics, and SilverScript is the only national basic plan with this feature," stated Todd Meek, president, SilverScript Insurance Company, CVS Health.
SilverScript will provide two innovative Part D plan options in 2017: SilverScript Choice and SilverScript Plus. SilverScript Choice is a basic plan that offers comprehensive coverage with competitive premiums and the same copay at every pharmacy in the network, and SilverScript Plus is an enhanced plan that provides additional coverage in the Coverage Gap (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 2017 plan year.
SilverScript maintained its 4-star performance rating from CMS for 2017, the company reported. 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.
"Few plans achieve a 4-star or higher rating from CMS, and we are focused on continued improvement as we strive to maintain our performance and quality rating," Meek said. "As an objective tool, the CMS Star Ratings system is also 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."