The Most Competitive 2023 Medicare Part D Drug Plans in Decatur, IL

The Most Competitive 2023 Medicare Part D Drug Plans in Decatur, IL

Medicare’s Annual Enrollment Period (AEP) starts on October 15, which is generally the only time during the year you can switch Part D drug plans.

The AEP lasts from October 15-December 7, so if you haven’t had your drug plan reviewed yet, make sure you contact us as soon as possible!

In this article, we'll share why everyone should review their drug plan annually, some Part D updates for 2023, ​​and our recommendations for the most competitive Part D carriers.

Disclaimer: We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact or 1-800-MEDICARE to get information on all of your options.

Note: Originally published October 14, 2019. Updated October 6, 2020 to include new drug plans for the 2021 contract year. Updated October 4, 2021 to include new updates for the 2022 contract year. Updated October 18, 2022 to include new updates for the 2023 contract year.

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Why You Should Review Your Part D Drug Plan

Before we offer up our recommendations for the most competitive 2023 Medicare Part D drug plans in Decatur, IL, you might be wondering – is it really necessary to review my plan?

Even if you love your drug plan, the unfortunate reality is that drug plans can change every single year.

For example, those with a 2021 WellCare Select drug plan experienced a $48 premium increase in 2022 unless they proactively changed plans during the annual enrollment period.

Benefits and prices can and do change every year, not to mention that the prescriptions you take might have changed as well.

Drug plans have formularies, and you want to make sure that the drugs you take are in your plan’s formulary. If not, you’ll pay much more than you need to on prescription drug prices.

Changes You Can Make to Your Medicare Drug Plan

From October 15-December 7, you can make the following changes to your Medicare drug plan:

  • Enroll in a stand-alone Medicare Part D plan
  • Switch from one stand-alone Medicare Part D plan to another one
  • Drop your prescription drug coverage

Unless you qualify for a special enrollment period, this is the only time of year in which you can make these changes, so it’s in your best interest to at least shop the options.

If you don’t make adjustments to your Part D plan during this special time period, your options for making changes later are very limited.

Take advantage of the Medicare AEP while you can! You have nothing to lose, but hopefully, you have some money to save.

Medicare Part D 2023 Updates

There are a few changes coming as we enroll in 2023 Medicare Part D plans.

Inflation Reduction Act (IRA)

Big changes are coming to Medicare Part D as a result of the Inflation Reduction Act (IRA), which was signed into law in August 2022.

Some of the most notable changes for you include the shingles vaccine will be free and copays for a 30-day supply of Part D-covered insulin will be capped at $35 starting January 1, 2023.

In 2024, Part D members that enter the catastrophic phase will have no additional out-of-pocket costs for the rest of the year.

In 2025, a $2,000 out of pocket maximum will go into effect. Also starting in 2025, there will be a new "smoothed" cost sharing system that spreads out prescription payments over the course of the year.

You can read more about the Inflation Reduction Act here, but we will keep you informed of the updates as they go into effect.

Drug deductible is now $505

Most stand-alone Medicare Part D drug plans will have a $505 deductible for 2023. (It was slightly less last year at $480.)

Most Competitive Medicare Part D Plans in Decatur, IL

Each year, the most competitive drug plans change, because the plan benefits and premiums also change.

This year, the most popular Part D carriers in Decatur, IL are going to be SilverScript, Wellcare, and Cigna. These are the three companies we’ll be recommending the most when we run drug comparisons for our clients.

Our recommendation is always tied to the drug comparison you can run on


SilverScript has a plan with a very low premium – just $4.90 per month in Macon County – which is ideal for those who only take generics or don’t have any prescriptions and want to avoid the Part D penalty.

SilverScript also has $10 copays for select insulins at preferred pharmacies. For anyone who only takes a few medications, this can be a money-saving plan.

However, preferred generics have a $2 copay, and the lowest premium Wellcare plan has a $0 copay on preferred generics. It's always best to run a comparison to see which plan will cost you the least when considering premium and copays.


Wellcare often comes up as the lowest cost plan depending on which drugs you take. For 2023, the Wellcare Value Script plan has a $11.70 premium and a $0 copay on preferred generics.

While this premium is higher than SilverScript's lowest premium plan, it can still be your most affordable option. You always have to factor in the total annual cost, not just premiums!

If you take four preferred generics, the Wellcare Value Script plan is likely the least expensive plan option for you in 2023. In addition, Wellcare's preferred pharmacies include Amazon, Walgreens, CVS, and most grocers.


Cigna is another contender as they have an economical plan with $12.10 per month premium, low copays, and savings on generic drugs.

Depending on which prescriptions you take, this plan could be your most compatible option. Cigna's preferred pharmacies include Walgreens, Walmart, and Sams Club.

Run a Drug Comparison

Using the recently updated drug comparison tool on Medicare's website, you can enter the exact prescriptions you take, and the system will show you the plan options in your zip code. Plans are automatically sorted by 'lowest drug + premium cost', so your least expensive option will be at the top!

Rest assured you don't have to do this on your own if you aren't comfortable with it. Your agent here at Sams/Hockaday can assist with running your Part D drug plan comparison and will either walk you through the enrollment process or complete the enrollment for you.

If you're not currently a Sams/Hockaday client, give us a call at 217-423-8000 to schedule an appointment!

What If I Don’t Take Medications?

You have the option to refuse Part D drug coverage, but there are some penalties attached to that.

Each month you go without creditable drug coverage, you’re penalized 1% of the national base beneficiary premium, and the final sum is added to your monthly Part D premium.

Read more: Medicare’s Part D Penalty, Explained

If you want to avoid penalties and like the idea of having a drug plan just in case, the lowest premium plan in Macon County is $4.90 from SilverScript. This is the lowest premium drug plan we've seen in a very long time.


If you need help with your drug plan, please contact us at 217-423-8000! We are your local, trusted Medicare agents and will go above and beyond to make sure you have the best coverage for the lowest price.

Get a Prescription Drug Plan Comparison

Whether your premiums change or not, there's a good chance that the medications covered by your plan change yearly. Let us help you choose the best plan.

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Disclaimer: We do not offer every plan available in your area. Currently we represent 4 organizations which offer 41 products in your area. Please contact, 1‑800‑MEDICARE, or your local State Health Insurance Program to get information on all of your options.