Generic Prescription Drugs
Prescription Drug Plans: Learn How to Increase Your Savings
Learn more about generic prescription drugs. You can get real savings on prescription drugs when you place orders through an online pharmacy or by mail.
Although your health insurance may give you coverage for prescriptions, you may receive a healthier discount when you use generic drugs. Learn more about how to get the biggest savings from your prescription drug plan.
Save Money When You Request Generic Prescription Drugs
Generic drugs provide consumers with big savings on their prescriptions. Generic drugs have the same active ingredients as brand name prescription drugs and work the same way as brand name drugs, but are sold at a huge savings to customers. Generic drugs often look different than brand name drugs and become available once patents expire on their brand name counterparts. After patent expiration, competitors can sell prescription generic drugs at a huge savings to customers. The generic competitors do not have to pay for the research and development costs that the brand name drug manufacturers had to pay for so can offer the generic drugs at a huge savings. Health insurance companies in turn pass along the savings in their prescription drug plan. Typically the costs for brand name drugs are much higher, even with medical insurance. Prescription drug plans highlight the importance of asking for generics whenever possible.
Generic Prescription Drug Quality and Availability
Generic prescription drugs have the same quality as name brand drugs. All generic drugs sold by prescription have to meet regulatory requirements. In the U.S., generic drugs have to meet approval by the Federal Drug Administration (FDA). Unfortunately, not all brand name drugs have generic counterparts. About half of the brand name drugs available by prescription have generic equivalents. It takes up to 20 years for a prescription drug patent to expire. Once the patent expires, generic equivalents can be made available at a significant savings to customers.
Ordering Generic Prescription Drugs by Mail or from an Online Pharmacy
You can also save money when you order generic prescription drugs by mail or from an online pharmacy. If your prescription drug plan allows you to order prescriptions by mail, it behooves you to get this set up as quickly as possible. Ordering medicine from an online pharmacy or by mail often saves you a considerable amount of money. Your prescription drug plan will require that you get three-month prescriptions for medications you take regularly. Use your three-month prescriptions to order from an online pharmacy or by mail - your local pharmacy usually can’t match these prices. Your prescription drug plan only charges you for one month of prescriptions, even though you’ll receive three months’ worth for eligible drugs. That’s a huge savings, especially on prescription drugs that you have to take regularly.
Learn More About Generic Prescription Drugs
Learn more about generic prescription drugs before you buy. For more information about any medicines prescribed to you, talk to your pharmacist or your doctor. You can also review the FDA Center for Drug Evaluation and Research for more information about generic prescription drugs.
Learn more about health insurance including paying for prenatal healthcare, choosing between HMOs and PPOs and getting medical debt help.
Talk back with a writer- tell Lisa Nichols your experiences with your prescription drug plan.
