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Brand Name Drug - Health Insurance Definition
 
 

A Brand Name Drug is just like any other commodity in one way - it’s typically more expensive. Almost any trip to the doctor ends with a stop at the pharmacy. Over the past years, the cost of medications has skyrocketed leaving some families in trouble. But the advent of generic drugs offered some relief. The good news is that the generic version should be exactly the same as the brand name.

You’ve probably noticed that when you buy the store brand chicken soup you get less chicken and more water than when you choose the more expensive brand. That’s not supposed to be the case with drugs - the generic and brand are to have the same active ingredients and the generic must be equally effective. The brand name version is protected by a patent so the generic will probably be a different shape and/or color.

So why would you ever pay the higher price for the medication with the brand name? There are times when your doctor will not approve the generic. As a rule, it pays to trust the professional. It could be that there’s an inactive ingredient that varies between the two medications and that the doctor is seeking to avoid that compound. It could also be that the company producing the generic version has had some sort of problem - word like that spreads among the medical community.

If you don’t have drug coverage insurance, ask your doctor if there’s an over the counter drug that you can use instead. If your physician doesn’t make the distinction between the brand name and the generic, be sure to ask your pharmacist if a generic is available.

 
 
 
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