Our generic prescription benefit plan provides coverage for all generic drugs. It also provides coverage for select brand-name drugs used in the treatment of diabetes, which may change from time to time without notice to members or physicians. Members who have this plan will pay 100 percent of our discounted rates for all other brand-name drugs they receive. To learn more about this benefit plan, log into My Insurance ManagerSM.
Generic drugs contain the same ingredients as brand-name drugs, but are not manufactured under a brand name or trademark. The color and shape of the generic drug may be different from its brand-name counterpart, but the active ingredients are the same for both. Generic drugs must meet the same Food and Drug Administration (FDA) standards as the brand-name drugs. And generic drugs are always preferred!
Most likely. Many commonly prescribed medications have generic versions. In fact, nearly 63 percent of prescriptions are now filled with generic drugs. To see if there is a generic version of a brand-name drug, go to Members My Insurance Manager and click on My Pharmacy ManagerSM. Using the drug look-up function, enter the name of the brand-name drug. You'll then see a list of generic and preferred brand-name drugs that may be alternatives for the drug you now take. Please take this information to your next doctor's appointment to see if a generic drug will work for you. View a list of popular brand-name drugs with generic equivalents.
Drugs are first marketed by their brand name, which is protected by patent for up to 20 years. Until the patent expires, no other companies can produce the generic equivalent — so the cost to you and other consumers is kept higher. When the drug patent expires, other companies can release the same drug, creating competition. The only difference may be the color or shape of the drug — and the price. On average, a generic drug costs 50 percent less than the equivalent brand-name drug. The FDA requires generics to have the same quality, strength, purity and stability as brand-name drugs. Generics are held to the same safety and performance standards. FDA-approved generics deliver the same amount of active ingredients in the same amount of time. Find out how generic drugs can save you money.
The next time your doctor writes you a prescription, ask if a generic version is available to help you save money. When you take your prescription to the drugstore, tell your pharmacist you would like a generic drug. Remember, when you use a generic drug, you get the same quality as the brand-name drug at a lower cost.
