SilverScript Insurance Company announces its new Medicare Prescription Drug Plan options for 2018

WOONSOCKET, R.I., 2017-Oct-17 — /EPR Retail News/ — SilverScript Insurance Company, a CVS Health (NYSE: CVS) company, today (October 12, 2017) 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.

“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.

About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its 9,700 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 90 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contacts:
Christine Cramer
CVS Health
401-770-3317
christine.cramer@cvshealth.com 

Christina Beckerman
CVS Health
(401) 770-8868
christina.beckerman@cvshealth.com

SOURCE: CVS Health

CVS Health’s SilverScript Insurance Company announced its new Medicare Prescription Drug Plan (PDP) options for 2016

Plans feature $0-deductibles, low premiums and affordable co-pays

WOONSOCKET, R.I., 2015-10-14 — /EPR Retail News/ — SilverScript Insurance Company, a CVS Health (NYSE:  CVS) company, today announced the company’s new Medicare Prescription Drug Plan (PDP) options for 2016. Medicare beneficiaries can choose from two SilverScript plans that offer $0 deductibles, lower premiums than the 2015 SilverScript plans in many states and low co-pays for several frequently prescribed drugs. In addition, the 2016 SilverScript prescription drug insurance plans earned an overall 4-star rating from the Centers for Medicare and Medicaid Services (CMS) in part for their high quality, clinical outcomes and customer service.

“As part of our commitment to helping people on their path to better health, we simplified and consolidated our Medicare PDP offerings in 2016 to provide comprehensive and even more affordable coverage. In fact, our plan premiums are among the lowest offered among national Part D plans,” said Mitch Betses, senior vice president, Medicare Part D Services for CVS Health. “In addition, the recent 4-star rating awarded to us by CMS demonstrates the high level of value and quality of care our SilverScript plans offer, and we remain committed to supporting our members in delivering worry-free coverage as we continue our legacy as one of the first plans available when Medicare Part D began 10 years ago.”

SilverScript will provide two Part D plan options in 2016: SilverScript Choice and SilverScript Plus. SilverScript Choice offers comprehensive coverage with low premiums and co-pays, and SilverScript Plus 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 2016 plan year.

Both SilverScript PDPs offered in 2016 will feature a $0-deductible, low copays for many drugs and competitive premiums. In fact, SilverScript premiums in 30 states are lower than they were in 2015 with premiums in eight of those states below $20, and SilverScript Choice plans have the lowest PDP premium in four states. Members can access a convenient nationwide network consisting of a wide selection of pharmacies across the country including many large national and regional chains, many independent, community-based pharmacies, and the CVS/caremark mail service pharmacy. Additionally, in 2016, SilverScript is introducing a new formulary to keep co-pays low for some frequently prescribed drugs.

SilverScript recently received a 4-star performance rating from CMS for delivering value, clinical outcomes and customer service. SilverScript plans showed high levels of performance across several areas, including operational and customer service advancements, and industry-leading medication adherence programs. CMS annually evaluates and rates performance of private 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 have achieved a 4-star rating from CMS, and we are focused on continually improving our performance and the quality of the service we deliver,” added Betses. “As an objective tool, the CMS Star Ratings system is a helpful way for Part D eligible consumers 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 for the 2016 plan year begins on October 15, 2015 and runs through December 7, 2015. 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.

About CVS Health
CVS Health (NYSE:  CVS) is a pharmacy innovation company helping people on their path to better health. Through its 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs.  Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.

 

Media Contacts:

Christine Cramer
CVS Health
401-770-3317
christine.cramer@cvshealth.com

Christina Beckerman
CVS Health
401-770-8868
christina.beckerman@cvshealth.com

SOURCE CVS Health