Even before the much-debated spike in generic drug prices occurred a few years ago, seniors who obtained these medicines through Medicare Part D plans were increasingly paying more than they had previously, according to a new analysis.

Why? Generics were being placed on insurance formularies that required seniors to pay more out-of-pocket costs. These formularies are lists of medicines for which insurance coverage is provided, but there are different tiers, or levels, and insurers were continually placing more generics on higher tiers that require greater out-of-pocket spending.

Unlock this article by subscribing to STAT Plus. Try it FREE for 30 days!

GET STARTED

What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

  • When I have any med that is higher than tier 1 I check GoodRx and determine whether I should use the insurance or pay regular pharmacy fee.
    Have shared this with many friends.RN

Sign up for our Daily Recap newsletter

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy