Generic Times News
Generics Lowering Part D Rx Costs, CMS Reports
Published Online: Tuesday, August 1, 2006 [ ]
p align=justify> Although critics of the new Medicare Part D drug benefit are pushing for changes in the program to lower costs to seniors, officials at the Centers for Medicare & Medicaid Services (CMS) contend that the program is already cutting prescription costs far more than originally expected.
According to CMS, strong competition among competing Part D prescription drug plans has enabled Medicare patients to see "deep discounts on their drugs at their local pharmacies," with much of the savings coming as a result of generic drugs. "In many cases, beneficiaries are using the unprecedented price information provided by Medicare to get much larger savings by switching to lower-cost drugs," CMS said. "Many beneficiaries?have switched to generic drugs, obtaining even deeper discounts on their drug costs."
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