Benefits Plans - Prescription Drug Plan: Drug Plan Updates and New Drug Releases -
Generic Incentive Program Correction
Effective May 1, 2004
AdvancePCS and the University have discovered that in some instances where a reference price for a generic co-insurance or co-pay was not established for a medication, members who chose brand-name medications were charged for the generic co-pay only and did not pay the price difference between the generic and brand-name medication. This oversight has been corrected and as of May 1, 2004 members who choose brand-name medications when generics are available and acceptable will pay the cost difference plus the applicable brand-name co-pay. See the Generic Incentive Program for more information.
The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.