Blue Cross and Blue Shield of North Carolina is once again helping members out with their prescription drug costs with a new generic copayment waiver program. This new version is a more revised and condensed edition of the generic copayment waiver programs that they have used in previous years. The new program’s purpose is to motivate some members to shift to less expensive medicines. It is also a way to raise medication use during a troubled economy, for patients taking drugs for chronic conditions. They want to reduce surging drug costs.
The company is concerned about the fall of prescription use during the last few months. This reveals that many people are not getting the prescriptions that they need to maintain their health.
Blue Cross will pay, but the costs are counteracted because the amount that it pays in all for drugs decreases. The cost for an average brand-name drug currently cost $130 for a month’s supply. The average generic medicine is only around $19.
Once brand-name drugs lose patent protection, federal regulations permit generic versions of medicines. This causes pharmaceutical companies behind the original drugs to suffer, while offering cheaper substitutes for consumers.
Blue Cross fosters generics to prescribing physicians. Drugstore chains such as Walmart, Target are now offering inexpensive generic co-pays. Increasing the amount of generics that are available is a huge priority according to regulators.
The most current data from the N.C. Institute of Medicine shows that the amount of money spent of prescription drugs in N.C. has almost increased 50 percent faster than combined health costs from 1991 to 2004. Mark Holmes, vice president of the institute, says that programs like Blue Cross are effective at getting people to buy the generic version of the drug, which saves the consumer and the insurer money for a treatment that is just as effective.
There are a few restrictions to the Blue Cross program. It is not accessible to groups in which the insurer only provides the coverage. This includes state and federal workers. Also members with drug deductibles must satisfy that stipulation first. Blue Cross currently has about 3.7 million members.
Under this new Generic Waiver Program, copayments and coinsurance for all generic prescriptions filled or refilled between January 1, 2009 and June 30, 2009 will be waived by BCBS of NC. Underwritten (fully insured) groups and individual members will be eligible for this program. Also, self funded or ASO groups may partake in the program. The ASO clients will be furnished with more detail as needed.
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