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Press Releases
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Press ReleaseIndependence Blue Cross Saves Members Even More at the Pharmacy CounterPhiladelphia, PA - March 22, 2007 - To increase awareness and use of generic drugs and help members save money on prescriptions, Independence Blue Cross is extending through 2007 its waiver of copayments and coinsurance on generic drugs. The exciting No Pay Copay promotion—the first-ever waiver of copays and coinsurance for generics in this market—has been so successful in its first few months that it has been extended to December 31, 2007. “Our members have responded very positively to our No Pay Copay promotion,” said Joseph A. Frick, Independence Blue Cross president and CEO. “In just a few months, we’ve seen a five percent increase in the use of generic drugs. By extending the program through the year, and expanding it to include even more members, we hope that those who are already using generics will stay with them to continue to save on their prescription drug costs, and others who have yet to switch to generics will consider making the change.” Through No Pay Copay, more than 1.2 million Independence Blue Cross members can fill as many prescriptions for generics as they need throughout 2007 and pay nothing. There is no enrollment necessary and the promotion applies to prescriptions filled at retail pharmacies or by mail. A member only needs to presents a prescription for a covered generic drug and his or her Independence Blue Cross card at a participating pharmacy. Increasing the use of generics drugs through education and copay waivers is an important aspect of the company’s broader strategy to control the rising costs of prescription drugs and improve the quality and affordability of health care. Another component, introduced in October 2006, is a formulary management program that informs members quarterly, rather than twice a year, when brand name drugs become available in generics. “We believe that the combination of increased formulary updates and extended copay waivers will encourage more members to talk to their doctors about whether a less expensive generic is right for them,” said Frick. “Once people make the switch from a brand-name drug to a generic, they generally continue using them, which lowers their drug expenses and helps to reduce the rate of increased costs for their plan sponsors.” Generics: Safe, cost effective alternatives to brand drugs According to the Congressional Budget Office, generic drugs save consumers up to $10 billion a year at retail pharmacies with no sacrifice in quality or effectiveness. Dr. Udvarhelyi said Independence Blue Cross has been pleased that pharmacists and physicians are embracing No Pay Copay because they understand the need to improve the affordability of medications for their patients. “Many of my customers have taken advantage of this promotion, and a number of them have switched from a more expensive brand-name drug to a generic,” said Nasir Fahham, RPh, and owner of Pickwick Pharmacy in Philadelphia. “When people use generics it not only saves them money, but they also tend to be more compliant about taking their medications as prescribed. They generally don’t skip taking their drugs or postpone refilling their prescriptions when they are more affordable.” Some brand-name drugs do not have a generic equivalent, usually because the drug’s patent has not yet expired. In these cases, members can ask their doctors if a generic therapeutic alternative might be appropriate. A generic therapeutic alternative treats a health condition in the same way as the brand-name drug, but uses different active ingredients. For example, if a patient takes LipitorTM, for high cholesterol and asks his doctor if a generic is available, the doctor may suggest simvastatin, a generic therapeutic alternative to Lipitor. Switching to simvastatin can help the patient save money and treat his condition in the same way that Lipitor does. Last year, generics became available for several blockbuster drugs whose patents expired, including those for treating high cholesterol, insomnia, depression, and digestive disorders. Additional generics will become available in 2007. For example, the patents for popular drugs like the sleep medication AmbienTM and the high blood pressure drug NorvascTM are expected to expire before the end of the year. Most members with IBC pharmacy benefits are eligible for the generic copay/coinsurance waiver. Not eligible for this program are members with Medicare Part D drug plans or Personal Choice® HSA-Qualified plans, and Keystone Health Plan East HMO members who belong to the Federal Employee Health Benefits Program. For more information about generic drugs, visit the Center for Drug Evaluation and Research. About Independence Blue Cross Independence Blue Cross recently received the highest ratings from the National Committee for Quality Assurance for its HMO and PPO health care plans. In addition, Independence Blue Cross’s Personal Choice was rated the No. 1 PPO in the nation and its Keystone HMO was ranked the No. 1 HMO in the region by health care consumers in a leading independent consumer magazine.
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