Brand Drugs vs Generic Drugs

by admin on October 22, 2012

If looking to save money on your Health Insurance premium one key thing to do is go with the Generic Only option when choosing your plan. Most of the time you can see a savings of around $1200 per member, but the key question is if Generic drugs are as good as the Brand?

In the United States today, 80% of prescriptions filled are generic Drugs. The growing trend is only going to grow larger as more and more of our popular Brand drugs are losing their patent coming in 2015.

On a typical Individual Health Insurance plan, you will find yourself paying $15 for your Generic and usually $35 for your Brand drugs with a $500 Brand Deductible. This making it much more appealing to choose the Generic option if your doctor and Pharmacy offer one. Some info regarding Generic Drugs from the FDA:

Generic drugs are required to have the same quality and performance as the Brand. All generic drugs have to be approved by the FDA and have to have met standards regarding strength, quality purity, potency and identity says the FDA. Manufacturers must prove their drug is the same as the brand name drug, as well as testing, packaging and manufacturing on all products which they must pass at the same level as the brand name drug.

The plants that your brand drugs are made usually have the generic drug being manufactured in the same place. Most of the studies that have been done show the two kinds of drugs being very similar, very few differences. If any usually has to do with absorption into the body either a little more or a little less.

There are ongoing studies regarding the differences between Brand and Generic Drugs and the effects on people when switching from one to another. The FDA does not allow a 45% difference in the effectiveness of the generic.

If you have any questions or would like to see if your daily drugs come in Generic form please give my office a call, 818-709-8442. You can also always call to see if we can lower your plan premium by giving you a Generic Only Drug Plan.

Go to:

www.health-insurancecalifornia.com

anytime for Free Health Insurance Quotes.

Politi Insurance Agents & Brokers

Leave a Comment

    Previous post: