Generics Lowering Part D Rx Costs, CMS Reports

Published Online: Tuesday, August 1, 2006   [ Request Print ]

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."