Wednesday, 28 March 2007
Independence Blue Cross Extends No Pay Copay Drug Offer
Philadelphia-based Independence Blue Cross has announced it will extend it’s “No Pay Copay” generic drug promotion until the end of 2007. The promotion gives Independence members free prescriptions and refills on generic drugs. The promotion was originally scheduled to last until the end of March.
Independence Blue Cross hopes the promotion will increase awareness and use of generic drugs, saving money for both the company and its members.
“Our members have responded very positively to our No Pay Copay promotion,” said Independence Blue Cross president and CEO Joseph A. Frick. “In just a few months, we’ve seen a five percent increase in the use of generic drugs. By extending the program through the year, and expanding it to include even more members, we hope that those who are already using generics will stay with them to continue to save on their prescription drug costs, and others who have yet to switch to generics will consider making the change.”
According to the Congressional Budget Office, a Federal agency that reviews budgets and legislative initiatives, healthcare consumers save as much as $10 billion a year buy using generic drugs instead of their brand-name equivalents.
“Generic drugs are much less expensive, and if they meet the clinical needs, then everybody wins,” said Blue Cross pharmacy vice president Paul Ulrick.
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