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New Study Shows Seniors Paid Nearly $22 Billion in Extra Out-of-Pocket Costs for Generic Medicines

WASHINGTON, DC (February 28, 2019) – Today’s report from Avalere is further evidence that America’s patients are needlessly spending too much out of pocket for affordable generics. Since 2015, seniors have paid nearly $22 billion in additional out-of-pocket costs for their prescription drugs in Medicare.

Generic Drugs Are the Prescription for Savings. Here’s Why You Shouldn’t Take Them for Granted.

More than 9 out of 10 generic drug prescriptions are filled for $20 or less. Everybody who takes medicine to get or stay healthy can appreciate these savings, which allow patients and families to spend their money on other things that matters to them. Those savings, however, are now in jeopardy, thanks to a combination of factors. Here’s what you need to know.

AAM Statement on Avalere Medicare Analysis

AAM Statement on Generic Drugs in Medicare Part D. Trends in Tier Structure and Placement, Avalere Health, May 22, 2018:

“In 2015, patients spent more than $6 billion in additional out-of-pocket costs on generic drugs compared to 2011. These increased out-of-pocket expenses on low-cost generics are being used by the plans to mask increases in branded drug prices.”

Avalere Health study funded by Association for Accessible Medicines.

AAM Issue Brief: Biosimilars Medicare Part D

Increasing Patient Access to Biosimilars in Medicare Part D

Congress should amend the Part D coverage gap discount program to classify biosimilars as “applicable drugs” in the Coverage Gap Discount Program. This change would allow biosimilar manufacturers to pay the 50 percent discounts paid by their brand competitors, and participate on a level playing field to compete for placement on the Part D plan’s formulary. It would reduce both patient out-of-pocket costs and Part D program spending.

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