Unlike other types of Medicare, Part D enrollment is concentrated in a few major insurance companies. Most plans will provide a similar set of basic benefits. However, the plan’s details, including the annual deductible amount, will determine which prescription drug plan has benefits that meet your needs.
A great way to assess the quality of a prescription drug plan is to look at the star ratings for each policy listed on Medicare.gov to understand the overall performance of each company’s Medicare Part D program and which company has the most satisfied customers.
- Humana
- AARP/UHC
- Silver Script
- Cigna
- Wellcare
Other providers that have lower-rated Medicare Part D plans include Rite Aid Corporation (3.5 stars), Banner Health (3.5 stars), Clover Health (3.25 stars), EmblemHealth (3.1 stars), and Bright Health (3 stars).
Prescription drug plans, called Medicare Part D, are stand-alone policies purchased from private insurance companies. Part D plans give you coverage for specific drugs that are not included in your Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) coverages.
Or you can bundle your prescription drug coverage into a single Medicare Advantage plan that combines Medicare Parts A, B, and D with other optional coverage.
Humana
Humana prescription drug plans have good overall coverage. Plans are well-rated, affordable, and widely available.
The insurer offers strong features, including a good service for medication delivery. According to J.D. Power, Humana’s mail order pharmacy ranked #1 in customer satisfaction. Plus, the many plans to choose from can help you get the coverage level that meets your prescription needs and your budget.
A key point of caution is the insurance company’s many complaints. Across all of its insurance products, Humana has nearly twice the rate of complaints as the industry average, and many policyholders comment on the poor customer service.
Humana Walmart Value Rx and Humana Premier Rx are high-deductible plans that are widely available and offer affordable generic drugs, helping you to spend less out of pocket. If you want a zero deductible plan, opt for HumanaChoice or Humana Gold Plus, which are available in select locations.
Silver Script
CVS Health and its subsidiaries, Aetna and Silverscript, are very popular for prescription drug coverage, accounting for about 23% of all Medicare Part D enrollments.
Plans are affordably priced, and the SilverScript SmartRx plan costs just $7.15 per month. The strongest coverage is available with the SilverScript Plus plan. They have a $0 deductible across all drug tiers and additional gap coverage.
A key advantage of these plans is that members get access to the digital tools of CVS Caremark. This includes resources for prescription pricing, discounts, deductible tracking, spending summaries, and more.
Note that CVS Caremark mail order pharmacy had the worst customer satisfaction of all pharmacies studied by J.D. Power. This reveals that even when plan coverage is strong, there could be frustrations when ordering medications via mail.
If you want to combine your prescription drug coverage with other types of Medicare, Aetna offers some of the cheapest Medicare Advantage plans on the market.
Wellcare
With both HMO and PPO prescription drug plans available, Cetene and its subsidiary WellCare provides a broad selection of plan options.
The Medicare Part D plans are widely available and moderately well ranked. Rankings do vary by location, so check to see how your local plans score. Notably, WellCare’s prescription insurance has a very low rate of consumer complaints, only about one-sixth of the average rate.
Plans are affordable, averaging $32 per month, and there are no deductible requirements for generic drugs when with WellCare Value Script, WellCare Wellness Rx, and WellCare Medicare Rx Select.
Cigna
Cigna-HealthSpring and its subsidiary Express Scripts offer prescription drug plans in all 50 states. With reasonable monthly costs and strong ratings, these Part D plans are a good choice for many people.
You’ll get better prices on medications by using Cigna’s in-network pharmacies. Also you will get the lowest prices are usually available through home delivery from Express Scripts Pharmacy.
Express Scripts has three insurance plan categories to choose from Saver, Value, and Choice. Cigna also has three categories: Secure Rx, Secure-Essential RX, and Secure-Extra Rx. All plans offer low-cost generic drugs, but Express Scripts plans provide free generic drugs. For those who want coverage during the policy gap (also called the donut hole), choose the Cigna Secure-Extra Rx or Express Scripts Medicare Choice plan.
AARP/UHC
UnitedHealthcare is a major insurance company that expanded its base of Medicare subscribers through its affiliation with AARP. Whether the plan name says UnitedHealthcare or AARP, UnitedHealthcare is the company that is providing the insurance benefits.
Prescription drug plans are widely available in all 50 states, Washington D.C., and several U.S. territories. Plans are very well-rated, averaging 3.9 stars. However, average monthly costs are more expensive than some other providers.
The insurer does offer ways to help members reduce the amount they spend on prescription drugs. This includes a network of preferred pharmacies that offer better prices and the option to order a discounted three-month supply through OptumRx mail order.
For low-cost generic drugs, choose the AARP MedicareRx Walgreens plan. This offers Tier 1 drugs for a copayment rather than requiring you to meet the plan’s deductible.
If you need a drug plan. Give us a call and we can get you set up with the right carrier.