SilverScript Choice withdrawal from 13 regions affects 950,000 members in 2027
Key Facts
CVS Health plans to withdraw its SilverScript Choice drug plan from 13 regions for 2027 coverage, affecting about 950,000 members. A KFF analysis published on October 27, based on data from the Centers for Medicare & Medicaid Services, said they represent 81% of enrollees in standalone drug plans that will end at the close of 2026. That puts CVS’s plan at the center of this year’s wave of standalone plan terminations, but does not mean it is exiting all regions. Members will transition during the annual enrollment period, which allows them to choose alternative coverage. CVS shares closed at $91.13 on October 27, according to EL7 data.
According to KFF’s analysis, coverage for about 1.2 million people in standalone drug plans will end at the close of 2026, or 6% of enrollees. The figure was 3% the previous year, meaning the share affected doubled year over year. Across the broader Medicare program, plans covering 4.3 million beneficiaries will end, including 3.1 million enrolled in Medicare Advantage plans with drug coverage and 1.2 million in standalone plans. Standalone plans are part of prescription drug coverage known as Part D. When a plan ends, its enrollees must arrange alternative coverage to continue receiving this type of coverage.
The number of standalone plans available to the average beneficiary will fall from 11 in 2026 to 9 in 2027, the fourth consecutive year of decline, according to KFF. The total number of nationwide plans will also decline from 360, offered by 17 sponsors in 2026, to 316, offered by 15 sponsors in 2027. This contraction places SilverScript Choice’s withdrawal within a broader reduction in available options, rather than making it an isolated decision in the standalone plan market. KFF said CVS will withdraw the plan from 13 regions, while Health Care Service Corporation will withdraw its HealthSpring Extra Rx plan from 22 regions. The termination of the two plans is among the factors the organization cited to explain the contraction in standalone plan offerings.
In another estimate, KFF projected that the average monthly premium for a standalone drug plan would rise from $35 in 2026 to $36 in 2027, an increase of $1. The Centers for Medicare & Medicaid Services estimated an increase of less than $1, from $35.09 to $36. The agency said 88% of beneficiaries who are not low-income will have access to a basic Part D plan with a premium of no more than $10.30 a month. However, the average premium does not describe changes in every plan or state; KFF said enrollees in many states could face monthly increases of $50 or more in some AARP drug plans if they keep them. The organization also said the end of the Part D premium stabilization program did not lead to widespread increases, but likely affected 2027 premium levels.
KFF says enrollees in a standalone drug plan that is ending need to choose another plan or move to a Medicare Advantage plan with drug coverage to maintain Part D coverage. Open enrollment began on October 15 and ends on December 7, during which beneficiaries can compare their options and change their drug plan. Selected changes take effect on January 1, 2027. Under Centers for Medicare & Medicaid Services guidance for the 2027 contract year, a special enrollment period for people whose plans were terminated or not renewed begins on December 8 and runs through the last day of February 2027. An enrollment request submitted between December 8 and 31 takes effect on January 1, giving members who did not choose a plan during open enrollment additional time.
As for other options, the Centers for Medicare & Medicaid Services said on September 28 that more than 99% of beneficiaries will be able to access at least one Medicare Advantage plan in 2027, and 97% will have 10 or more options. The agency expects about 5,532 such plans nationwide in 2027, compared with 5,553 in 2026. It also estimated Medicare Advantage enrollment would reach 34 million, or about 47.4% of all Medicare enrollees. The agency noted that its enrollment projections for the program have historically been below actual figures. These numbers provide context for beneficiaries considering a move from an ending standalone drug plan to another option, while specified enrollment deadlines continue to govern when new coverage begins.