Individuals and families covered by HSA-qualified, high-deductible health plans could see significant reductions in their out-of-pocket expenditures over the next 14 months as generic versions of seven of the world's 20 best-selling drugs, including cholesterol fighter Lipitor and blood thinner Plavix, hit the market.
According to the London research firm EvaluatePharma Ltd, best selling drugs with about $255 billion in global annual sales will go off patent between now and 2016. Generic competition is expected to slash the cost to patients and companies that provide health benefits.
The lower cost prescription drugs could perhaps directly benefit most those who have HSA plans that require insureds to pay the full (usually discounted) cost of most prescription drugs until they have reached their plan's annual deductible limit.
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