Generic Drugs
Americans are filling more prescriptions to treat and prevent ailments than ever before, and those prescriptions are more costly now than ever. On average, the amount spent on drugs increases up to 20 percent per year and is one of the primary drivers of the increasing cost of health care. Fortunately, all it takes is a few easy changes to help control those cost increases. When your doctor writes you a prescription, ask them if a generic drug could be right for you.
Why Spend More?
- Generic drugs work just as well as their branded counterparts
- They have the same active ingredients in the same strength at the same dosage
- Generic drugs can cost up to 90 percent less than their brand equivalents
- Your plan now spends over $100* on a brand prescription, while the average cost of a generic is under $25*
Why do Brand Names cost more?
One reason is that drug manufacturers spend more on marketing and advertising than they do researching and developing new therapies. These costly activities are added to the total price of the drug. Generic drugs, however, are seldom advertised or marketed, which helps them cost less.
Talk to your doctor or pharmacist if you have any questions about the drugs you are taking. Even if the specific brand you have been prescribed does not have a generic equivalent, there may be a similar drug available generically that could save you money. You and your doctor will always make the final decision about your treatment, but it pays to discuss your options.
Generic Drugs: Questions and Answers
Facts and Myths about Generic Drugs
A listing of the GlobalHealth Low Cost Generics (LCG)
* Source: Global Health prescription claims data, 1/1/11-5/18/11