Generic medicine prices have been falling for three years but some patients are experiencing higher out-of-pocket costs. That doesn’t add up. When patients are burdened with higher Rx costs than ever, it makes no sense that there are forces keeping safe, effective and affordable generic and biosimilar medicines from getting approved, and being accessible to patients.
Fewer than half of the new generics (the first to compete with brand-name drugs) approved by FDA since 2016 are commercially available to patients. Of those that are commercially available, only half are included on formularies of Medicare Part D plans.That doesn’t add up.
Since 2015, seniors have paid nearly $22 billion in needless out-of-pocket costs for their prescription drugs in Medicare Part D because health plans are placing them on higher formulary tiers. That doesn’t add up. If plans automatically put generic drugs on generic tiers with lower out-of-pocket costs, seniors will see immediate benefits.
Biologic medicines are among the costliest and fastest growing category of drug spending. Biosimilars hold great promise to be more affordable alternatives to expensive biologics, but only 11 of 24* biosimilars that have been approved by FDA are available to U.S. patients. That doesn’t add up.
Send a message to your lawmakers to tell them, “This Doesn’t Add Up.” Real stories from real patients make a real difference.
Report: Sidelined: How Seniors Miss Out On Savings Available Through Generic Substitution
Report: Seniors Denied Access to New, Lower-Priced Generic Drugs Due to Medicare Coverage Delays
Generic costs have been going down but many patients are paying more for these medicines. That doesn’t add up.
