SilverScript unveils options to lower out-of-pocket drug costs

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SilverScript unveils options to lower out-of-pocket drug costs

By Sandra Levy - 10/02/2018
SilverScript Insurance, a CVS Health company, has announced its new Medicare Prescription Drug Plan, or PDP, options for 2019. Medicare beneficiaries can choose from three SilverScript plans that offer a $0 deductible in 44 states on all five drug tiers.

The company has added SilverScript Allure, a new PDP option for 2019 that offers an enhanced plan design, including low copays on many generic drugs, as well as lower out-of-pocket costs on many brand-name drugs at both retail and mail through point-of-sale, or POS, rebates.

"In an era of rising drugs costs, our goal is to help keep out-of-pocket costs lower for America's seniors. That is why we want to ensure consumers know they have options, and we are providing enhanced choices to meet their individual needs from both a prescription and financial standpoint," SilverScript Insurance president Todd Meek said in a statement. "For 2019, we have low premiums and continued access to a $0 deductible for drugs on all tiers for the majority of SilverScript plans across the country, and have added a new plan design option for those beneficiaries looking for lower out-of-pocket costs at the pharmacy counter on certain brand-name medications."

SilverScript Choice is a basic plan that offers comprehensive coverage. Enrolled beneficiaries can benefit from a $0-deductible on all covered drugs in most states and $0 copays for 90-day supplies of Tier 1 drugs nationwide when filled through the CVS Caremark Mail Service Pharmacy. Drug tiers indicate the level of cost sharing for a covered drug with beneficiaries typically paying lower copays for drugs in lower tiers, the company said.

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 2019 plan year. Specifically, the SilverScript Plus plan offers $0 copays for 90-day supplies of both Tier 1 and Tier 2 drugs nationwide through the CVS Caremark Mail Service Pharmacy in the Initial Coverage Phase and through the Coverage Gap, which can help keep the member cost share of these drugs consistent as they transition into and through the Coverage Gap.

In addition, SilverScript Plus offers a $0 deductible on all covered drugs. SilverScript Plus beneficiaries also can save on their drug costs by using a preferred pharmacy in a network that includes national leading chains, plus thousands of regional and local independently owned pharmacies across the country, according to the company.

SilverScript Allure plan is designed for people who take brand-name medications in higher drug tiers. Specifically, SilverScript Allure offers a $0 deductible on all covered drugs, $0 copays for 90-day supplies of Tier 1 drugs when filled by CVS Caremark Mail Service Pharmacy and the same large national pharmacy network as the SilverScript Plus plan. While SilverScript Allure features a higher premium than the other SilverScript plans, it offers beneficiaries lower out-of-pocket costs for their prescription drugs, including copays as low as $1 on a 30-day supply of a Tier 1 drug when filled at a preferred retail pharmacy. The plan also offers reduced costs on many brand-name drugs through the application of point-of-sale rebates where a portion of pharmaceutical manufacturer rebates on certain Tier 3, Tier 4 and Tier 5 brand drugs are applied directly to the drug's price when the member purchases the prescription at any retail pharmacy or by mail, the company said.