Use of Generics On the Rise

Recent data issued by the Centers for Medicare and Medicaid Services indicate that generic medication accounts for nearly 60 percent of the drugs dispensed to people in Medicare Prescription Drug Plans and Medicare Advantage plans.

Dispensing of generics has increased among private third-party payers — growing 9 percent over the past year, according to the National Association of Chain Drug Stores. Generic drug use by Medicare Part D participants is 13 percent higher than by people with third-party coverage.

CMS acting administrator Leslie V. Norwalk says that a growing number of beneficiaries are asking their doctors and pharmacists about generics, which leads to more savings “that can be used to provide better value and expanded coverage to beneficiaries.”