| Central New Yorkers saved nearly $30 Million last year by using generic drugs in place of name brands. That's according to Excellus Blue Cross Blue Shield who analyzed prescription patterns during the past year.
In October 2005, the insurance company says just over 48% of Central New Yorkers chose generics, in 2006 that grew to 55.3%. But in some cases, it wasn't always the consumers' choice to switch, they were forced to.
Michael Bardin takes 30 pills a day, some are brand names, but most are generic. "I don't think there's really a difference," he says.
Pharmacist Jerry Levy says even if you think there is, most insurance companies will force you to change your mind.
"A lot of people in the past, when there was a generic available would not take the generic, I want the name brand cause they were told that is the only thing that works, but now, they've taken co-pays and raised them from about 5 to 10 to 20, 30, 40 even 50 percent higher and the generic co-pays have become $5 dollars," Levy says.
Levy says he doesn't even carry a lot of name brand drugs that have gone generic this year because more than 90% of the time, the insurance companies won't pay for them.
That includes several popular cholesterol, blood pressure and sleep medications. The generics to those drugs work just as well and are obviously cheaper.
"Let's see if we have a premium decrease or no increase 'cause they claim that drug prices are what's causing a lot of the increases," Levy says.
We know, that's not happening in 2007 though, Excellus has already raised premiums for next year by 8 to 10 percent.
Levy says most generic drugs are made by the same manufactures as the brand name drugs and next year, the savings should continue as more popular drug patents run-out leaving the market open for generics. |
