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AARP put out a report last month on the use of generic drugs. Here's the first paragraph of the press release:
"WASHINGTON—A new report by AARP’s Public Policy Institute details strategies used to increase the use of generic prescription drugs, which are typically as little as one-third the cost of their brand name counterparts. Despite consistent increases in brand name drug prices, the prices of generic alternatives have fallen in recent years. The report notes that every one percent increase in generic drug use could yield as much as $4 billion in savings to consumers and the health care system. "
And here's the report:
and the intro:
"Pharmaceutical spending has been rising rapidly in recent years, and prescription medicines have quickly become a target in the struggle to contain health care costs. One increasingly attractive option to reduce costs is to encourage the utilization of generic drugs, which are typically as little as one-third the cost of their brand-name counterparts. The apparent safety and savings associated with generic drugs have not gone unnoticed—many health insurers, pharmacy benefit managers, and public health programs are adopting strategies that encourage generic utilization."
Here's the web site to find out if your medication has a generic form:
Obviously not all drugs are available in generic form, but for those that are, how do you feel about them?
Generic drugs are good news and bad. I am glad to have most of mine under the generic category because this saves me money. However, the newer, and better, drugs are not generic and a couple of mine fall under this category. Generally, the Doctor will insist on the brand name because she knows what is best.
The bad news is that we have little people, non-medical people, making decisions on our healthcare. We see this in the insurance companies, and we see it in government run programs.
In the latest news we learn that the Obamacare Plan is going to pay for everyone else's healtcare off the backs of the Senior Citizens. The plan will slash Medicare payments to doctors, which will make many doctors turn down Medicare patients.
I would not plan on the prescription coverage to get fixed. It will get worse just like all government programs.