Brand-name and generic Medications

Brand-name prescription drugs: prescription drugs which are patented and produced by a single drug company. As a result, they are usually more costly than generic drugs.

 Generic prescription drugs: prescription drugs available from more than one manufacturer. Since generics can be produced by more than one drug manufacturer, their cost is usually less than the brand-name drug.

 Brand vs. generic: since generics usually cost less than the brand-name medication, most plans charge a lower co-pay when you choose generics. Or, they may ask you to pay an additional amount over your co-pay for a brand-name drug. Generics have the same active ingredients as the brand drugs, and are FDA-approved, so choosing a generic for your prescription can help keep your insurance premiums down