Silverscript Insurers Company is part of a new and growing trend to provide prescription drug coverage through large pharmacy chains. The company is a wholly owned subsidiary of CVS Caremark Corporation originally established in 2005. Silverscript is a licensed Medicare part D provider whose only business revolves around providing supplemental prescription drug coverage to Medicare recipients.
Silverscript does not offer health insurance, but you can search for a company that does by entering your zip code in the box provided.
Providing prescription drug plans through pharmacies is quickly catching on across the United States. Pharmacies have discovered that they can offer such insurance policies at a more affordable rate when customers are willing to purchase all of their prescriptions through that pharmacy or one of its partners. Several nationally known pharmacies are adopting this practice, with some even offering on-site emergency nursing care for non-life-threatening emergencies.
Silverscript Prescription Plans
Although details vary from one state to the next, Silverscript offers plans in two basic categories:
Their Value plan is designed for Medicare eligible customers whose prescriptions are currently at a minimum but who want to protect themselves in case their health circumstances should change in the future. This plan provides low co-payments, deductibles, and reduced prescription prices through the CVS Caremark network of pharmacies.
Their second plan, known as the Plus plan, is a more comprehensive one designed for Medicare users regularly taking prescriptions. It costs a little bit more but it offers reduced prices for brand-name drugs as well as generics. Like the value plan, members of this plan purchase their prescriptions directly from a CVS pharmacy, Long’s Drugs, or through the CVS Caremark mail service. Individual details regarding your state can be found on the Silverscript website.
Silverscript Locations and Agents
Due to the nature of Silverscript’s business model there is no need for the company to maintain any offices other than their corporate headquarters. That said; there seems to be some contradiction as to where the company is currently based. Official business records from the state of Texas indicate the company is in Nashville, Tennessee. However, the company website lists a mailing address in Arizona. For your convenience, we have included both addresses below.
Silverscript Insurance Company
445 Great Circle Road
Nashville, TN 37228
Telephone: (615) 743-6616
P.O. Box 52193
Phoenix, AZ 85072-2193
In terms of agents, the company does not utilize them due to the nature of their business. Most customers will find out about Silverscript’s insurance policies through advertisements at a local CVS pharmacy or Long’s Drugs outlet. From there, more customers are realized simply by word of mouth. New customers would sign up for policies by visiting the company’s website or calling them using their toll-free enrollment number at 1-866-552-6106.
As a Medicare provider, Silverscript claims service works mainly on a direct-to-provider basis. That means in most cases customers would simply show their ID card at the time a prescription is being filled, for a reduced rate. The difference between what the customer pays and the actual cost of the drug is then billed directly to Silverscript. In certain circumstances, it is possible that consumers would have to go through a reimbursement plan.
In such a case, customers might have to be charged the full price at the counter for the prescriptions. They would then fill out a reimbursement form and send it directly to Silverscript’s claims department. It’s not clear when this reimbursement plan is triggered, but it may be in cases where policyholders utilize a pharmacy that is out of Silverscript’s network. Regardless, consumers should try to stay within the network whenever possible or utilize the company’s mail services.
Silverscript Customer Service
Silverscript is still a new provider by insurance industry standards. Having only been formed six years ago in response to the federal government’s expanded prescription drug program, the company has nonetheless made great inroads into prescription drug coverage. They consistently receive positive reviews from within the industry as well as their customers. They have a good reputation for providing excellent service that is both comprehensive and fair.
To help their customers get the most from their policies they provide a series of resources on their website that are freely available. Some of those resources include a network pharmacy locator, an online educational library, and a full explanation of Medicare part D benefits. Customers with Internet access needs simply visit the corporate website and access the appropriate links on the left side of the page.
To help keep policyholders up to date on current happenings, Silverscript maintains a current news section on their website as well. Here consumers can learn about changes in the law, new drugs, changes in their policies, and so on. From this section, they also have access to downloadable forms and instructions.
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