Reliable Part D Carriers for the 2019/2020 AEP

NH-Reliable-Part D-Carriers-for-2019_2020
October 8, 2019

*Disclaimer: FOR AGENT USE ONLY - Cannot be distributed to the public or used in any customer solicitation.*

It’s that time of year again, where PDP enrollment goes wild and we all kick it into high gear. We’ve taken a look at the Part D carriers for the 2019-2020 AEP, and there are 3 that are looking really good.

Those include:

  1. WellCare
  2. Humana
  3. SilverScript

If you do plan on getting certified, these 3 carriers are going to be excellent choices for many of your clients.

If you haven't seen or tested out the new Plan Finder, check out Medicare.gov's New Plan Finder Tool: What Insurance Agents Should Know.

The WellCare Plans

All of the WellCare plans are looking really good for 2020, just depending on what medications your clients are taking.

A few highlights about the low-premium WellCare Value Script:

  • Very low premium (ex: $16.20 in central IL)
  • $435 deductible
  • Partnership with CVS

If your client has generic prescriptions and is open to the CVS Caremark Mail Service Pharmacy, they'll pay less in copays.

If your client is taking no medications, it might be worth looking at the even lower premium WellCare Wellness Rx, which has a $13.20 premium. They will have higher copays on this plan, but if they just want to avoid the Part D penalty, this is a very low-cost option.

The WellCare Medicare Rx Saver is another new plan for this year. Here are a couple highlights:

  • Low premium (ex: $27 in central IL)
  • $435 deductible

When running drug comparisons, keep an eye on WellCare – I anticipate this carrier to be the most popular one this year.

Get contracted with WellCare

Humana Walmart Value Rx Plan

The new Humana Walmart plan for 2020 is going to be a popular choice for its low premium and partnership with Walmart.

A few highlights about the Humana Walmart Value Rx Plan:

  • One of the lowest premiums out there (ex: $13.20 in central Illinois)
  • $435 deductible
  • Partnership with Walmart meaning huge discounts

While Humana does have a deductible, the premium is one of the lowest out there, and the partnership with Walmart makes the plan very competitive.

Humana also offers two additional plans:

  1. Humana Premier Rx Plan: Higher monthly premium, $435 deductible
  2. Humana Basic Rx Plan: Slightly higher premium, $435 deductible

The plan that's best for your client is of course going to be completely reliant on their drug list and the pharmacy they prefer to visit.

Get contracted with Humana

SilverScript Choice

A few highlights about the SilverScript Choice plan:

  • $365 drug deductible
  • Low monthly premium (ex: $24.90 in central Illinois)

This is a very competitive plan, especially for someone who isn’t on many medications or is taking common generics like simvastatin.

For plans in the lowest premium category, the $365 deductible with SilverScript Choice is one of the best deductibles. This year, in order to have a $0 deductible plan, you're looking at $70+ in premium per month.

The low premium coupled with the competitive $365 deductible will make SilverScript Choice a great option for many of your clients.

Get contracted with SilverScript


Finish Contracting With Your PDP Carriers

These 3 carriers – WellCare, Humana, and SilverScript – are very reliable, year-in and year-out.

While getting certified and following the rules and regulations of each company is a hassle, you can choose to be compensated for your time. We expect these to be the most competitive options for this AEP.

Contact Ginny, our Contracting Specialist to get set up with these Part D carriers.

While you see your clients for their PDPs, make the most of the time. Consider going through a Client Needs Assessment during the appointment to maximize the opportunity to cross-sell.

Download Your Client Needs Assessment Template

If they’ve come to you for help with their Part D plan, chances are they could use your help with their Med Supp or possibly life insurance.

You’re going to get calls, and you’re going to see existing clients. Make the most out of every appointment by helping with all areas of coverage.

You might even utilize some of our client leave behinds:

Get Your Client Leave Behinds

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