Costs drop for 8 of 10 most common drug classes

July 19, 2011

There is a very interesting study that was released recently that deals with the impact generic drugs are having on costs. According to the report, generic drugs are playing a key role in keeping drug costs down. As patents on brand name drugs expire, the trend toward using cheaper generic drugs is expected to continue through 2015. The study found that average daily prices for eight of the ten most common drug classes covered by Medicare Part D have fallen from $1.50 in January 2006 to $1.00 in December 2010, and are expected to reach 65 cents by the end of 2015. This trend should be good news for those worried about Medicare Part D costs. If you would like to read the entire article, “Medicare Part D sees falling drug costs: study” you can find it here.

Visit Extend Health — the nation’s largest private Medicare exchange.

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