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What is a generic drug?
A generic drug is a "copy" of a brand name drug. It is usually made by a different company. Before approving a generic drug, the U.S. Food and Drug Administration (FDA) checks it. The FDA compares it to the brand name drug. It makes sure that the generic drug has the same amounts of the same active ingredients as the brand name drug.
The generic drug must come in the same dosage as the brand name drug. It must be absorbed into the bloodstream the same way. It must meet the same quality standards, and meet the same standards for safety and effectiveness.
Generic drugs may contain different inactive ingredients. These include colors, flavors, and fillers added to the medicine.
Generic drugs may look different. They may have a different color, shape or size than the brand name drug. But they have the same active ingredients. This is why generics work as well as brand name drugs.
Why do we cover generics?
Generic drugs work as well as brand name drugs, but cost far less. Generic drugs can cost half as much as brand name drugs. And in some cases, the savings can be much larger.
Healthcare costs are on the rise. Pharmacy costs are increasing even faster. When a generic drug is available, our program covers only the generic. We do not cover the brand name drug. This helps hold down the cost of health care for our members, while providing the coverage your children need.
Why do generics cost less?
Some people believe you get what you pay for. But with brand name drugs, what you're really paying for is advertising. You're paying for ads on radio and TV, and in newspapers and magazines. You’re also paying for the drug sales people who visit doctors and hospitals.
The high cost of brand name drugs is important to drug companies. It helps them get back the money they spend on research. This helps with the discovery of new drugs. That's why a brand name drug is protected by a patent for up to 20 years. After a patent runs out, other drug companies can make generic versions. These are usually sold at much lower prices. Until the patent runs out, other companies usually cannot make generic copies.
Due to patents, you can't get a generic version of every brand name drug. But when you can get the generic drug, it can help save money.
Sometimes, when one drug isn't offered as a generic, there may be another drug that can help you. This other drug may come as a generic. Ask your doctor.
Many health plans, the federal government and others suggest using generics. Ask your doctor to prescribe covered generic drugs, whenever possible.
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