by PharmacyChecker.com | Aug 10, 2011 | Medicare Drug Plans
Besides the obvious – access to cheap generic alternatives for once exorbitantly priced prescriptions – this year’s patent expirations on blockbuster brand-name drugs means even more good news for American consumers. A U.S. News and World Report article suggests the Patent Cliff as one of the reasons for the forecasted Medicare savings. Access to low-cost generics on popular drugs like Lipitor cuts spending significantly for plan sponsors, and U.S. officials have announced that enrollees paying for prescription drugs through Medicare Part D will not see an increase in premiums, in contrast with prior years. Rather, the yearly fees will decrease slightly – from an average of $30.76 in 2011 to $30.00 in 2012. All current plan premiums can be found on MedicareDrugPlans.com – Compare Costs and Features.
Moreover, plan enrollees are now receiving a 50% discount on brand name drugs purchased through the coverage gap. However, brand name drug prices continue to increase, which means the discount’s importance is less pronounced. (more…)
Tagged with: brand name drugs, compare costs, consumers, customer service, discount, generics, Medicare Drug Plans, Part D, Patent Cliff, U.S. News and World Report, United States
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Jan 26, 2011 | Drug Prices, Healthcare Reform, Medicare Drug Plans, Online Pharmacies, Personal Drug Importation
In the State of the Union speech last night, President Obama highlighted prescription savings benefits in his otherwise brief coverage of new healthcare reform. As we’ve previously reported, and President Obama was clear to state, those prescription savings will go mostly to our nation’s seniors who are enrolled in Medicare. Beginning last September, many of America’s seniors received $250 rebate checks for prescription drug costs, a small step toward affordable healthcare. Better yet, starting this year, the coverage gap will narrow, with enrollees receiving a 50% discount on brand name drugs, and by 2020, a 75% discount. While the “doughnut hole” will not fully be closed, the savings will mean that far fewer Medicare enrollees will face exorbitant brand name drug prices out of pocket. (more…)
Tagged with: 50-64, brand name drugs, discount, doughnut hole, health insurance, Medicare, personal drug importation, prescription drugs, President Obama, rebate, seniors, State of The Union, uninsured
