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Press Releases
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Press ReleaseIndependence Blue Cross Waives Copayments for Generic Drugs Through March 31, 2007Philadelphia, PA - January 4, 2007 - Most Independence Blue Cross members will pay nothing for new prescriptions or refills for covered generics filled at participating retail pharmacies or by mail order from January 1 through March 31, 2007. The goal of the promotion, called No Pay Copay, is to help members understand how the appropriate long-term use of generics can save them money while providing the same health benefits as brand name drugs. No Pay Copay is the first promotion of its kind in the Philadelphia region. “Prescription drugs continue to be among the fastest rising costs for our employer customers and our members. That is why we are focusing on ways to reduce the rate of increase of medical costs as part of our overall strategy to provide access to high-quality, affordable care,” said Joseph A. Frick, president and CEO of Independence Blue Cross. “Our No Pay Copay program provides immediate savings relief by lowering out-of-pocket costs for members, helping them afford the medications they need, and educating them that generics can be safe, effective and less expensive alternatives to brand name drugs.” “We anticipate that this innovative program will encourage our members who take brand name drugs to talk to their physicians about switching to less expensive generics,” said Frick. “We believe once people make the change to generics, they will keep using them and lower their long-term drug expenses.” During the first quarter of 2007, copayments or coinsurance will automatically be waived when an eligible Independence Blue Cross (IBC) member who has IBC drug coverage presents a generic drug prescription and member ID card at one of the approximately 56,000 participating IBC network pharmacies. Copays or coinsurance for members who already take generic medications or who switch to generics will also be waived until March 31. For IBC members, the average monthly out-of-pocket savings for switching from a brand drug to an appropriate generic is $5 to $40, depending on the member’s plan. However, during the No Pay Copay promotional period, members will pay nothing for generic prescriptions, saving even more. Prescription drug costs are one of the fastest growing components of U.S. health care expenditures, accounting for $188.5 billion in 2004, according to a June 2006 report from the Kaiser Family Foundation. Last year, generics became available for several blockbuster drugs whose patents expired, including those for treating high cholesterol, insomnia, depression, and digestive disorders, and additional generics are expected in 2007. “Generic drugs provide the same therapeutic benefits as their brand name counterparts and meet the same rigorous health and safety standards set by the U.S. Food and Drug Administration (FDA),” said Dr. I. Steven Udvarhelyi, IBC’s senior vice president and chief medical officer. “We will continue to cover a broad array of FDA-approved brand and generic drugs so our members have lots of choice through our drug benefit.” “However, because brand name drugs are significantly more expensive than generic alternatives, our list of approved drugs — or formulary — reflects this difference so that members pay more in copays and coinsurance for brand drugs than for generics,” said Udvarhelyi. “We want to provide an incentive for our members to use generics when appropriate.” In addition, as part of a broader approach to managing prescription drug benefits announced in October, IBC will update its formulary quarterly, rather than twice a year, so members, physicians and pharmacists are notified sooner when a less costly generic drug is available. Generics: Safe, cost effective alternatives to brand drugs A pharmacist may dispense a generic equivalent for drugs that have both a brand and generic version available, unless a physician has prescribed a specific brand name drug to be dispensed as written. A member who wants to try a generic can ask his or her doctor to consider writing a prescription for a drug with a generic equivalent, when appropriate. However, some drugs within a therapeutic class (for example, cholesterol lowering drugs) do not have a generic equivalent. 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 integrated prescription drug coverage such as Major Medical, Comprehensive Major Medical (CMM) and Personal Choice® HSA-Qualified, and Keystone Health Plan East HMO members who belong to the Federal Employee Health Benefits Program (More information about generic drugs). About Independence Blue Cross Independence Blue Cross’s HMO and PPO health care plans recently received the highest ratings from the National Committee for Quality Assurance. In addition, in 2005, Independence Blue Cross’s Personal Choice was rated the No. 1 PPO in the nation and its Keystone Health Plan East HMO plan was ranked the No. 1 HMO in the region by health care consumers in a leading independent consumer magazine. Independence Blue Cross and Keystone Health Plan East are independent licensees of the Blue Cross Blue Shield Association.
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