Medicare | Association for Accessible Medicines
In the News - AAM CEO Dan Leonard shares the industry's 2021 outlook with Chain Drug Review.

Medicare

AAM Supports Updating Medicare to Lower Costs for America’s Seniors

Even though generics and biosimilars provide consistent savings for taxpayers and consumers, today’s Medicare patients too often face obstacles to using these lower-cost options. This is a result of outdated policies that can unintentionally encourage plans to prioritize formulary placement of high-cost brand drugs and that fail to reflect the emergence of new competitive therapies.

White Paper: Sidelined: How Seniors Miss Out On Savings Available Through Generic Substitution

Generic medicines are an integral component of America’s pharmaceutical care system, driving substantial savings to patients and public programs. Even as spending on prescription drugs continues to rise in public programs, the use of generic medicines has blunted increasing brand drug prices, generating savings of $293 billion in 2018 alone. In fact, the average price of generic drugs covered under Medicare Part D in 2017 was only 26% of their average price in 2006.

Three Recommendations to Save Money for Seniors and Taxpayers by Updating Medicare Part D

Since 2006, the Medicare Part D program has successfully provided seniors access to lifesaving medicines while stewarding taxpayer resources. Today, the program serves more than 45 million seniors. The average basic Part D premium for 2020 is expected to decrease for the third consecutive year, resulting in $1.9 billion lower premium costs for beneficiaries during that time period.

White Paper: Access Denied: Why New Generics Are Not Reaching America's Seniors

The unabated high cost of prescription medicines in America has prompted a public outcry for solutions from state and federal policymakers as well as health care leaders. Meanwhile, FDA-approved generic medicines continue to generate competition for more expensive brand drugs and reduce costs for America’s patients for 35 years running. Generic drugs are a core component to lowering drug spending, and the use of generic medicines saved $313 billion in 2019 alone.

Seniors Denied Access to New, Lower-Priced Generic Drugs Due to Medicare Coverage Delays

AAM Analysis Shows Patients Wait Up to Three Years for First Generic Competitors to Costly Brands

WASHINGTON, DC (September 19, 2019) – The Association for Accessible Medicines (AAM) today released a white paper, “Access Denied: Why New Generics Are Not Reaching America’s Seniors.” It highlights striking new data on the treatment of generic medicines in Medicare Part D, resulting in beneficiaries paying more for their medicines even when lower

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