13:01 PM

We’ve just found a way to lower your prescription costs, Horizon Blue Cross CEO says

By Kevin Conlin

If ever there were an argument for competition, look no further than the generic drug market.

According to Health of America research, the average cost-per-script for single-source generic drugs, i.e. drugs with no competition, increased 361% between 2010 to 2017. During the same period, the cost-per-script of generic drugs sold in competitive markets decreased 7%.

As the lower-cost alternative to branded medicines, generics help people access the affordable medications they need to get and stay healthy at a price they can better afford. Generics make up 85% of all prescriptions we cover at Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) and only 18% of our total pharmacy spend.

But when our members’ access to affordable medicines is thwarted by a lack of competition, it is time to take action. And that is exactly what we along with the Blue Cross Blue Shield Association and 17 other Blue Cross Blue Shield plans across the country are doing through a new partnership with Civica.

Read more at NJ.com.