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Generic drugs reduce price of Part D

Case Management Weekly, March 8, 2006

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Medicare beneficiaries enrolled in the prescription drug benefit can significantly reduce their medication costs by switching from brand name treatments to generic drugs or lower-cost therapeutic equivalents, according to a study released by Consumers Union.

The Consumers Union study examined prices for medications in five common treatment areas-high cholesterol, high blood pressure, post-heart attack care, arthritis pain and depression-under Medicare drug plans in Arizona, California, Georgia, Maryland, Minnesota, and Pennsylvania. The study finds that beneficiaries taking five drugs who switched from brand name drugs to lower-cost alternatives could save between $2,300 and $5,000 annually.

According to the study, the savings could be enough to prevent beneficiaries from reaching the so-called "doughnut hole," the coverage gap under which Medicare beneficiaries are responsible for annual drug costs between $2,250 and $5,100. In addition, the study finds that beneficiaries who switched just one brand name medication to a lower-cost treatment could save between $350 to $800 annually.

Source: California Healthline

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