FAQ Friday: Silver Script Update

SilverScript has brought it to our attention that there has been an issue with Medicare Part D’s billing. For those you that do not know, SilverScript is a Medicare Part D drug plan which is through CVS Caremark. They have brought it to our attention that anyone that selected to have their premium drafted for their Medicare Part D drug plan from their Social Security check or Railroad Retirement check may not have had the premiums drafted properly. They found that the issue with the premiums started February 1st. We do not know any information as to how the problem started or who was affected by this issue. Most people may not have noticed due to the fact that the premiums are fairly low.

This issue has not affected everyone however it has affected all carriers. SilverScript will be sending out information in the next two weeks explaining where the mistake was made with how your premiums were processed. Starting February 1st 2019, Medicare Part D premiums were not being taken out properly. Medicare has since identified the problem and has fixed it; however, their systems are not allowing them to go back and take back premiums.

Do not be alarmed if you receive a notification in the mail from your Medicare Part D provider in the next 2 to 4 weeks that’s going to share with you more details on what happened with their systems and how they have since corrected the issues. They are also going to include an invoice for the premiums and you will need to mail a check directly to your provider. Do NOT send it to Medicare or your agent or broker. You must be on the look out for this notification because if your Medicare Part D provider sends this invoice and receives no payment, they will consider your Medicare Part D plan in default and they will term or cancel your plan.

This will not affect your Medicare Supplement premiums in any way. These two plans are totally separate and it will not affect your coverage or your premiums. Those are safe.

If you have any questions regarding Medicare, its services or ours, or your Medicare Coverage, please give our office a call at 1-855-368-4717 or visit one of our web pages:

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