Forty-Seven (47) New Generic Equivalents Added to Medicare Part D formularies in April 2017

Some interesting additions to the 2017 formularies include:

What Could the Addition of New Generic Drugs Mean to You?

• You may be able to save money by switching from the brand-name drug to its generic equivalent – with your prescriber’s approval and a new prescription.  Please note, you will need to look carefully at coverage costs as we have found that many 2017 generics are being offered on the same tier as their brand-name equivalent or the generics do not have a significantly lower retail price.  For example, the brand-name Tamiflu (45 mg) may have a retail cost of around $132.16 as a Tier 4 drug (35% co-insurance) and the same plan may now cover the generic equivalent OSELTAMIVIR PHOS 45 MG also as a Tier 4 drug (35% co-insurance).  You can click here to see how your Medicare drug plan is covering these medication.
  
  
• Your brand-name drug may no longer be available if a generic is now available.  From past experience, we may find that many Medicare Part D plans discontinue coverage of a brand-name drug in the months following the introduction of a generic equivalent.  If you have received notice from your Medicare Part D plan that your brand-name medication will be dropped, you should speak with your prescriber to determine if you can take the generic equivalent or if you will need to ask your plan for a formulary exception to continue coverage for the brand-name drug.  You can click for a chart showing the trends in formulary coverage for some of the most popular Medicare drugs and their generic equivalents.