The push for consumers to choose generic drugs over brand name drugs is stronger than ever.
I took my daughter to the urgent care center today, because she had an ear infection. The doctor wrote us a prescription for an ear drop antibiotic that cost $137 (without insurance). I asked her “Is there a generic version of these ear drops?” The doctor said there wasn’t, but there was a very similar ear drop that was a generic. The total cost (without insurance) was $29.99.
The bottom line is that I saved $45 because my co-pay was only $15, instead of $60. On top of that, my insurance company saved $62.01. The significance of my insurance company saving money, is that consumers saving my insurer money on a large scale, by choosing generics instead of brand name drugs will keep my rates (and everone elses rates) lower when it comes time for my annual renewal.
Some doctors don’t care if consumers buy the generic. In fact, they would rather you buy the brand name. They have pharmaceutical reps in their office, day after day, offering them perks to sell their brand name drugs. Although I have had first hand experiences with doctors that prescribe the generic whenever they can.
There is more than just the cost issue to consider when replacing brand name drugs with generics. How do they stack up quality-wise?
Most everything I have read makes the argument that generics are “the same” as brand name drugs. It’s true that the FDA requires the same amount of the active ingredient to be in the generic, as was in the brand name. However, colors, flavors, and other active ingredients do make them slightly different.
Some articles I have read, and people I have talked to, do leave a little room for concern with a few specific generic drugs. In making a decision to replace a brand name drug with a generic, make sure you get your doctors and/or pharmacists opinion.
The takeaway? Save money and lower your annual health insurance rate increases by buying generic drugs.
To learn more about generics, read Consumer Reports “Guide to Prescription Drugs – Generics.”
[...] The idea (formally recognized as Consumer Driven Health Care) is, that consumers paying for office visits and prescriptions out of their own pockets will create an awareness of how much those things cost. The insured might be a little more cautious before they head off to the urgent care center for something that don’t necessarily need to go there for. On top of that, the hope is, the insured will question and negotiate with the medical provider when the provider orders tests and prescribes name brand drugs. [...]