Cheaper Medicines for Seniors: New Medicare Rules
New regulations aim to make it easier for seniors to access lower-cost generic and biosimilar medicines under the Medicare program. Insurance companies will be required to offer these drugs at lower prices and without excessive restrictions, potentially reducing treatment costs for many.
Key points
Medicare Part D insurance plans must include lower-cost generic and biosimilar drugs on their formularies.
Access to these cheaper drugs cannot be more restricted than access to their more expensive brand-name counterparts.
Insurance companies must create specific pricing tiers for generic and biosimilar drugs with lower co-payments to encourage their use.
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