Yes, insurance does cover generic Lipitor. According to GoodRx [3], Medicare Part D plans cover generic atorvastatin, which is the generic version of Lipitor. The cost of generic Lipitor can vary depending on the type of insurance coverage and the pharmacy. However, the price of generic Lipitor has significantly decreased since its patent expired in 2011 [2]. The drug has become widely available and much cheaper than the brand-name version [2]. In fact, at one point, some pharmacies were even offering free generic Lipitor to attract customers [2]. DrugPatentWatch [1] confirms that the patent for Lipitor expired in 2011, which opened the door for other pharmaceutical companies to produce generic versions of the drug. Overall, it is safe to say that generic Lipitor is covered by insurance and is widely available at a much lower cost than the brand-name version.

Sources:
[1] https://www.drugpatentwatch.com/p/tradename/LIPITOR
[2] https://www.npr.org/sections/health-shots/2012/09/12/160997059/how-cheap-can-lipitor-get-try-free
[3] https://www.goodrx.com/lipitor/medicare-coverage