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August 2020 Drug List Updates: Twenty-one (21) new generic drugs added to many Medicare Part D plan formularies.

Category: Monthly Formulary Changes
Published: Aug, 15 2020 01:08:49


As you may know, Medicare Part D prescription drug plans update their plan formularies (drug lists) throughout the plan year and the August 2020 Medicare Part D formulary updates included 37 new drugs, 21 of which are new generic drugs - with a total of 25 new generic equivalents (variations of manufacturer, drug-strength, and packaging).

Below is a full list of the new generics added to the 2020 Medicare Part D (PDP) and Medicare Advantage plan (MAPD) formularies:


*The number of formularies counts the unique formularies that offer this medication. As a note, the same formulary can be used by one or many different Medicare Part D plans. The same formulary can be used by both PDP and MAPD plans.

What Could the Addition of New Generic Drugs Mean to You?

  • You may be able to save money by switching from the brand-name drug to its generic equivalent – with your prescriber’s approval and a new prescription. Please note, you will need to look carefully at coverage costs as we have found that many 2020 generics are being offered on the same tier as their brand-name equivalent or the generics do not have a significantly lower retail price.

  • Your brand-name drug may no longer be available if a generic is now available. Based on past experience, you may find that many Medicare Part D plans discontinue coverage for the brand-name drug in the months following the introduction of the generic equivalent - or your plan may immediately drop the brand-name drug now that the generic is being introduced
    .
    If you have received notice from your Medicare Part D plan that your brand-name medication will be dropped, you should speak with your prescriber to determine if you can take the generic equivalent or if you must continue taking the brand-name drug, you will need to ask your plan for a formulary exception to continue coverage for your brand-name drug.

    You can click for a chart showing the trends in formulary coverage for some of the more popular Medicare drugs and their generic equivalents.
As a note, both our Formulary Browser (you can view all the drugs covered by a single Medicare prescription drug plan) and our Q1Rx Drug Finder (you can view all the Medicare drug plans covering a single drug) have been updated with the August 2020 Medicare Part D formulary data.







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