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There are several new announcements from SilverScript!
Did you know that SilverScript® has more members in a Part D plan than any other Part D plan sponsor? The July 1, 2016 CMS payment file reports that SilverScript has more than 5.5 million members and more than four million of these members are actively enrolled in our SilverScript Choice PDP. Thank you for your support this past AEP and throughout the year.
We are confident that SilverScript will be well received by Medicare beneficiaries and agents during the 2017 AEP, too. CMS just approved our 2017 PDP premiums, and plan designs are approved and finalized. We encourage you to review this eNewsletter and complete your annual certification promptly to help ensure that you have the information, materials and tools you need for a successful AEP season and 2017 plan year.
Over the next several weeks we will distribute a series of eNewsletters to our SilverScript contracted agents. Today’s Agent Update is focused on the annual certification requirements and your increased commission rates for 2017. You can always check the SilverScript Agent Portal (www.SilverScriptAgentPortal.com) home page for the latest news and information from SilverScript.
In This Issue:
- Announcing the CMS Approved 2017 SilverScript Plan Designs
- 2017 PDP Commissions are at Record Levels
- Your Initial Supply of 2017 Enrollment Kits Ship in Mid-September
- SilverScript 2017 Product & Process Course Now Available
- Exciting Enhancements Coming Soon
2017 SilverScript Plan Designs
$0 Deductible: Medicare increased the Part D standard benefit annual deductible to $400. SilverScript’s deductible did not. SilverScript’s 2017 plans will continue to have a $0 deductible on ALL tiers of the PDP formularies. Our plans are a bit different in Alaska and Hawaii but for the rest of the nation the $0 deductible on ALL tiers provides coverage from the first dollar for any covered drug on our formularies, not just Tier 1 or Tier 2.
Unique formularies: As for the list of covered drugs, The SilverScript Choice PDP formulary will be slightly different than the SilverScript Plus PDP formulary. Both formularies have five tiers and both cover over 3,300 drugs. One of the differences is that the Plus formulary has slightly more drugs on Tier 1 than the Choice formulary.
Below benchmark: The Choice PDP is below the regional benchmark in 30 out of 34 regions. Our annual certification course will provide you with region-specific pricing where you will notice our competitive rates, for example, in NY are below the benchmark by more than $10.
SilverScript Choice PDP: As mentioned above, the SilverScript Choice PDP has a $0 deductible for ALL tiers, except in AK and HI. The PDP is served by the nationwide Choice Network of more than 67,000 retail pharmacies and the CVS Caremark® Mail Service Pharmacy. No need for members to seek out a preferred pharmacy, coverage for the same medication at all standard pharmacies will be the same.
SilverScript Plus PDP: Compared to the 2016 premiums, we lowered the SilverScript Plus PDP monthly rates between $5 and $22.50, depending on the region. Similar to the SilverScript Choice PDP, this plan also has a $0 deductible for ALL tiers. SilverScript Plus has additional gap coverage for Tier 1 and Tier 2 drugs. The SilverScript Plus Pharmacy Network includes roughly 67,000 retail pharmacies and the CVS Caremark Mail Service Pharmacy. The Plus PDP differentiates between preferred and standard retail pharmacies. Plus PDP members pay lower copays/coinsurance at preferred pharmacies and via CVS Caremark mail service. The approximately 36,000 preferred pharmacies includes Walgreens, CVS Pharmacy, and many more chains and independent pharmacies.
Additional information: SilverScript 2017 PDP plan designs are included in the annual certification curriculum’s Product & Process course.
REMINDER: You may not share any 2017 plan information with the public (Medicare beneficiaries, clients, prospects, competitors, etc.) until October 1, 2016. The information in this communication is for AGENT USE ONLY.
2017 PDP Commissions Are at Record Levels
CMS caps the amount plans can pay agents for new and renewing members. The good news is that CMS raised the limit for 2017 and SilverScript is happy to pay the maximum allowable commission for both new and renewal policies. New to Medicare Part D annualized commission is $71 and renewal/rollover annualized commission is $36. We know that you work hard assisting your PDP clients. They appreciate all of your efforts and so do we.
2017 Enrollment Kits – Supplies
In mid-September we are sending an initial supply of 10 enrollment kits to agents who have completed the 2017 certification training and therefore qualify to market SilverScript. The enrollment kits include: A scope of appointment form, a 2017 plan guide, an enrollment application, the Summary of Benefits, the Star ratings sheet, an agent checklist, one copy of the Choice PDP formulary, one copy of the Plus PDP formulary (these are for agent reference), a car coach reference tool, color brochures, and a What to Expect Next packet for your newly enrolled clients. Reorder instructions are posted on the Agent Portal. Feel free to place advanced orders to help ensure you have enough materials for a productive AEP.
2017 Annual Certification Is Now Available
The SilverScript Product and Process course is now available via the SilverScript Agent Portal’s Training & Certification page. Now is a great time to complete all of your annual certification requirements.
Remember, you must complete the 2017 annual certification requirements before you can market SilverScript plans this AEP and you must complete the requirements prior to December 7, 2016 (the last day of AEP), in order to be eligible for 2017 renewal commission.
SilverScript now has a direct relationship with the AHIP training website. Agents who have completed 2017 initial training and/or annual re-training certifications through AHIP can have their results automatically submitted to SilverScript. Instructions are on the SilverScript Agent Portal’s Training & Certification page.
Exciting Enhancements Coming Soon
eApplication: Starting with the 2017 AEP, we will be launching the SilverScript electronic enrollment application (eApplication). The eApplication contains all the same information, all the same required leave behinds, all the same file copies, as a traditional paper application process. We will provide much more information on this web-based tool as we approach AEP.
Email Notifications: Based on feedback from our contracted-agent community, we are launching many new email notifications in advance of the 2017 AEP. We will push you emails with enrollment status updates. Just like order tracking emails you may receive when shopping online, our email notifications will let you know when enrollments are approved by CMS, when action is required, when applications are cancelled, and when applications are denied. The enhancements will help you keep on top of the enrollment process and help you better serve your clients.
For questions or comments, contact your upline admin team. They are ready to support you.