GENERICS HELP DRIVE DOWN PLAN D Rx COSTS

OCTOBER 01, 2007

Officials at the Centers for Medicare & Medicaid Services (CMS) are crediting the strong emphasis on cost-effective generic drugs with driving down the anticipated cost of Medicare Part D prescription drug coverage premiums for the coming year.

According to CMS, the actual average premium paid by beneficiaries for standard Part D coverage in 2008 will be roughly $25-an amount that is nearly 40 percent lower than originally projected when the benefit was established in 2003, and also lower than was projected earlier this year.

"Smart choices" have played a key role, according to CMS Acting Deputy Administrator Herb B. Kuhn. "Medicare drug benefit bids continue to be well below projections because of?increased generic usage," he said. Kuhn also credited "effective plan negotiation" for lower prices from pharmaceutical manufacturers, as well as "strong competition" among the drug plans themselves.



SHARE THIS SHARE THIS
0
 

The Oncology Care Pharmacist in Health-System Pharmacy 
According to the National Cancer Institute, almost 40% of men and women will be given a diagnosis of some form of cancer in their lifetime.


 

Pharmacy Times Strategic Alliance
 

Conference Coverage
News from the year's biggest meetings


Pharmacist Education
Clinical features with downloadable PDFs


 

SIGN UP FOR THE PHARMACY TIMES NEWSLETTER
Personalize the information you receive by selecting targeted content and special offers.