WASHINGTON (AP) — With three weeks left for seniors to change their Medicare prescription plan for 2012, a study released Wednesday finds that copays for brand-name drugs are going up — sharply in some cases.
Copays for preferred brand-name drugs will increase by 40 percent on average next year, and non-preferred brands will average nearly 30 percent more, according to the study by Avalere Health. Copays are the portion of the cost of each prescription that the customer pays the pharmacy.
The report underscores how important it is for Medicare beneficiaries to check their prescription coverage before open enrollment ends Dec. 7.
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