A smart choice
Generic drugs work the same as brand-name but cost less
When the patent expires on a brand-name drug, other companies can start making and selling the drug as a generic. Companies that make generic drugs don’t have the high research and marketing costs as the brand-name drug companies, so they can charge a lot less for their version of the medicine.
This can save you money – depending on the medicine you take, you can save anywhere from 30% - 80%:
Same results, lower cost
|Average retail price for brand-name prescription drugs||$165.30|
|Average retail price of generic prescription drugs||$19.40|
There is a generic drug to treat most medical conditions – including high blood pressure, high cholesterol, diabetes and asthma. Talk to your doctor or pharmacist about which generic drugs can work for you.
A generic pill or capsule may be a different shape or color, but that’s the only difference. All generic drugs must use the same active ingredients as the brand-name drugs. And the U.S. Food and Drug Administration (FDA) tests and approves every generic the same way they test brand-name medicines. *your actual savings depend on the drugs you take and your health plan benefit.
Cost-based tiered generics
You can save money when you choose a generic medicine instead of a brand-name medicine. Some plans have two different tiers for generic medicines, so generic drugs in Tier 1 will cost less than the generics in Tier 2.
With the same results at a lower cost, generics are a smart choice.