SilverScript is the nation's leading prescription drug plan, offering comprehensive coverage and quality care. As of 2021, it services more than 36 million people and is accepted in more than 67,000 pharmacies across the United States. In order to help its customers stay informed, SilverScript provides a detailed overview of its drug plans each year. Here's what you need to know about the SilverScript drug plans for 2023.
Drug Plan Options
SilverScript offers two prescription drug plans for 2023: a Preferred Drug List (PDL) plan and a non-PDL plan. The PDL plan covers a wide range of medications from over 1,500 generic and brand-name drugs, while the non-PDL plan covers a much more limited selection of over 700 generic and brand-name drugs. Both plans feature a preferred pharmacy network, which includes major national and regional pharmacies, mail-order pharmacies, and certain specialty pharmacies.
Coverage Levels
SilverScript's 2023 drug plans offer coverage levels of either 50% or 80%. The coverage level you choose will determine your copayment amount for each prescription. For example, if you choose the 80% coverage level, you will pay 20% of the cost of each prescription. The coverage level also determines whether you will pay a deductible for each prescription. The deductible for the 50% plan is $0 and the deductible for the 80% plan is $50.
Drug Formulary
SilverScript's 2023 drug plans feature an extensive formulary of over 2000 drugs. The formulary is divided into tiers, each with its own copayment amount. The lowest tier, Tier 1, includes generic drugs with the lowest copayment amount. Tier 2 includes brand-name drugs with a slightly higher copayment amount. Tier 3 includes non-preferred drugs with a higher copayment amount. Tier 4 includes specialty drugs with the highest copayment amount.
Out-of-Pocket Maximums
SilverScript's 2023 drug plans feature an out-of-pocket maximum. This means that after you have spent a certain amount of money on your prescriptions, SilverScript will pay 100% of the cost of your medications for the remainder of the coverage year. The out-of-pocket maximum for the 50% plan is $3,750 and the out-of-pocket maximum for the 80% plan is $7,500.
Specialty Drugs
SilverScript's 2023 drug plans also offer coverage for specialty drugs. Specialty drugs are medications that require special handling, storage, and administration. These drugs are typically used to treat complex, chronic conditions such as cancer and HIV/AIDS. SilverScript's specialty drug program covers a wide range of medications, including biologics, immunosuppressants, and monoclonal antibodies. The copayment amount for specialty drugs varies depending on the drug and the coverage level chosen.
Mail-Order Pharmacy
SilverScript's 2023 drug plans offer a mail-order pharmacy program. This program allows you to receive your medications directly to your home, without having to visit a pharmacy. The mail-order pharmacy offers a wide selection of medications, including generic and brand-name drugs, specialty drugs, and over-the-counter medications. The copayment amount for medications ordered through the mail-order pharmacy is the same as the copayment amount for medications purchased at a retail pharmacy.
Conclusion
SilverScript's comprehensive drug plans for 2023 offer a wide range of coverage for both generic and brand-name drugs, as well as specialty drugs. With two coverage levels and an out-of-pocket maximum, SilverScript provides a cost-effective solution for those who need prescription drug coverage. In addition, SilverScript's preferred pharmacy network and mail-order pharmacy program make it easy and convenient to obtain the medication you need.