A new study published from Health Affairs finds Medicare Part D patients paid 10.5 times as much in co-payments for brand-name drugs as generic drugs, Kaiser Health News reported.
Researchers analyzed CMS's cost data of all medications in 2013 under Medicare Part D.
Here are eight key findings from the study:
1. The top 10 most expensive drugs in Medicare Part D represented $19.8 billion in spending in 2013.
2. Nexium, prescribed to treat acid reflux, was the costliest name-brand drug at $2.5 billion.
3. Crestor, prescribed to treat cholesterol, also ranked as one of the costliest brand-name drugs at $2.3 billion, Kaiser Health News reported.
4. Copayments for Nexium and Crestor averaged $42, while their generic equivalents averaged $4.
5. In 2013 the top 10 drugs claimed in Medicare Part D were all generics, totaling $4.1 billion in expenses.
6. Seventy-six percent of drugs dispensed through Medicare Part D are generics, according to the report.
7. Government, patients and payers could have saved a combined $870 million in 2013 by prescribing generics over Nexium and Crestor.
8. Medicare Part D beneficiaries fill an average of three or more prescriptions a month, and half of enrollees had an income of less than $22,500 in 2012, Kaiser Health News reported.
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