In 2005, seniors used generic medicines only 54 percent of the time. Meanwhile, in 2015, the generic utilization rate was about 86 percent. What changed between 2005 and 2015? What program was implemented 10 years ago that has led to a steady increase in generic utilization? You guessed it – Medicare Part D.
According to the recently released Medicare Trustees report, the generic utilization rate for Part D beneficiaries has steadily increased each year, from 84 percent in 2013 to 85 percent in 2014 and to 86 percent in 2015.
Over the years, the Part D program continues to ensure America’s seniors have access to the medications they need through affordable prescription drug coverage while maintaining relatively stable monthly premiums (as we highlighted last week). Talk about a success story.
Learn more at PhRMA.org/PartD.
Nicole Longo Nicole is senior director of public affairs at PhRMA focusing on Medicare, 340B, importation and more. She previously worked for a D.C.-based public affairs firm where she assisted a wide range of clients with communications efforts on everything from trade policy to agriculture policy to health care policy. Outside the office, Nicole can be found trying new restaurants (usually Italian), taking an occasional barre class and cheering on the Cincinnati Bengals.