CVS Health, which maintains the SilverScript Part D prescription drug plan, stood its ground against skyrocketing drug costs with the release of its 2017 drug formulary.
The drug plan will add 35 products to its list of excluded drugs next year. Treatments for cancer and diabetes were replaced with lower-priced medications that have similar makeups, called biosimilar drugs.
While it doesn’t impact Medicare’s required base formulary, CVS/SilverScript uses its exclusion lists as leverage to save the company, and ultimately consumers, money. But this list could work against the company since plan members no longer have the benefit of purchasing excluded drugs using copayments.
One analyst called CVS’ exclusion list an “audacious step” to combat drug makers’ pricing. As always, it’s important to know a client’s prescription drug needs to compare against a formulary. Proper drug coverage is paramount to saving a PDP client money.