Saving with Generic Medicine
You’ve probably heard of generic medicine. Take this quick refresher for a few key points to know, including how it can be a big money-saver.
What is a generic medicine, exactly?
Generic medicines have the same active ingredients as brand-name. They’re designed to work the same and be taken the same way and at the same amount and strength.
3 Key Things to Know
- Generic medicines are as effective as brand-name medicines.
- They are regulated by the Food and Drug Administration for safety and quality. (This includes every detail, down to the quality of the label and container!)
- Generic medicines are 80% to 85% cheaper. This is because the brand-name versions are the trailblazers — drug companies have to spend a lot of money on clinical trials to get them approved. By the time generics come out, those studies are no longer needed.
Should I take a generic medicine instead of brand-name?
This is for you to discuss with your doctor and pharmacist.
Very rarely, people may not do well on a generic medicine because of very small differences between the medicines. (By the way, this means it could also go the other way: a person might do well on the generic, but not the brand-name.)
And of course, a medicine might not have a generic available.
Talk to Your Health Care Team
Ask about whether a generic alternative might be right for you. You can also ask about other ways to save on your prescriptions—they hear this question all the time.
With your medicines loaded into Altrua HealthShare, you can also check for generic alternatives and medicine coupons.
Take advantage of it—it can save you a lot of money.
References
FDA. Generic Drug Facts.
GoodRx. What’s the Difference Between a Brand-Name Drug and a Generic Drug?