Easier Access to Lower-Cost Medicines for Seniors in Medicare
This act aims to make it easier for seniors to access lower-cost generic and biosimilar drugs under the Medicare Part D program. Insurance companies will be required to include these drugs in preferred positions on their formularies, potentially lowering patient costs. Restrictions on access to these drugs will be prohibited, ensuring greater availability.
Key points
Medicare Part D insurance plans must include lower-cost generic and biosimilar drugs in preferred positions on their drug lists (formularies).
A preferred position means lower out-of-pocket costs for patients and better access to these medications.
Plans are prohibited from imposing more restrictive limits on access to lower-cost generic and biosimilar drugs than on their more expensive counterparts.
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