Will Discount Prescription Drugs Make Medical Coverage Easier to Get?Sept 2007
The cost of important, life-saving medications has recently been used to explain why medical coverage costs are so very high. But, as data begins to appear regarding the availability and use of discount prescription drugs, will more
affordable health insurance be far behind?
According to the
Kaiser Daily Health Policy Report, as "patents expire over the next five years for brand-name prescription drugs with more than $60 billion in combined annual sales, some health care experts predict that new generic equivalents will maintain single-digit drug price inflation for U.S. consumers."
What this means in layman's terms is that as discount prescription drugs become more available, which happens when patents run out on medications and anyone can copy the drug, medicines can cost as much as 80% less. Aside from offering tremendous relief to those who rely on such medications but don't have prescription drugs covered under their
medical coverage, this move could also lead to a decrease in medical debt, and a greater availability of affordable health insurance.
Facts on:
Affordable Health Insurance
Did you know...
Health care experts predict that new generic drugs will maintain drug price inflation for U.S. consumers?
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In Winston-Salem, North Carolina, one hospital saved $3 million dollars in 3 years just by reclassifying select brand-name drugs to non-preferred status, and offering generics in their place. The high costs of important medications are reputed to be one of the driving forces behind the hike in medical coverage rates, a trend that has exploded in the last 5 years.
But it will take some time for discount prescription drugs to replace the majority of popular medications on the market. Until then, those seeking affordable health insurance are advised to look for policies that specifically cover generic drugs, and to speak with their doctor about healthy and effective alternatives to expensive medications.
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