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Cheaper generic drugs coming in 2022 thanks to new $55m healthcare initiative

Photo credit: Jamie Rabbits (via Flickr)
(Image credit: Jamie (jamiesrabbits) via Flickr)

A group of Blue Cross Blue Shield health insurers have joined forces with nonprofit generic drug manufacturer Civica Rx to form a new company dedicated to "lowering the cost of select generic drugs." In a press release announcing the initiative, Blue Cross Blue Shield healthcare providers pledged $55m towards the creation of a Civica Rx subsidiary that aims to bring "high-cost generic drugs to market" for less by 2022.

The initiative will see Civica Rx make its drugs available for collection at the pharmacy for the first time. The nonprofit was formed in 2018 to address drug shortages and soaring prices in hospitals. It now works with over 1,200 medical centers across the country.

You'll find Blue Cross Blue Shield ranked top in our guide to the nation's best health insurance companies and can also read our full Blue Cross Blue Shield review to learn more about what it offers.

A matter of life and death for many

Affordable healthcare remains a key issue for many Americans and is one of the main battlegrounds of the 2020 presidential election. Last year, a record 51 laws were enacted across 33 states to address drug access.

According to Civica CEO and president Martin VanTrieste, affordable medication can be the difference between a patient following their doctor's orders or taking their healthcare into their own hands, which for many can be a matter of life and death.

"Civica’s mission is to make quality medicines available and affordable to everyone. Numerous studies confirm that medication costs can dictate whether individuals fill or ration their generic prescriptions," he said in a statement.

Putting aside traditional party lines, the new partnership between Blue Cross insurance providers and drug manufacturer Civica Rx certainly seems like one of the more promising healthcare initiatives in recent memory – even if its fruition is still a couple of years away.

In the meantime, the best Medicare Part D plans can help mitigate the cost of ongoing prescriptions. Alternatively, if you're looking to learn more about healthcare without giving yourself a headache, we have comprehensive guides to health insurance jargon and how to choose a health insurance policy.