And clever ways to save on both
If you’ve had a prescription filled recently, there’s a good chance you’re taking a generic drug. In fact, almost 80 percent of prescription drugs sold are generics. It’s estimated you can save at least two-thirds of your drug costs if you use generic drugs. According to the FDA, generics can be trusted to have the same quality as brand-name drugs, but at a cheaper price. That’s important because no one should compromise their health to save money.
How are generic and brand-name drugs the same?
The FDA requires generic drugs to meet standards that ensure they’re the same basic product as their brand-name counterparts. That means the generic is safe and can be taken the same way and for the same reason as the brand-name. For the FDA to approve a generic, it must be the same as the brand-name in active ingredient, strength, use and effect, how you take it (e.g. pill, inhaler or liquid), ability to reach the required level in your bloodstream at the right time and to the same extent, and testing standards.
How are generic and brand-name drugs different?
The FDA does allow some differences between generic and brand-name drugs, but the differences don’t affect how they work or how safe they are. Generics may be a different shape or color, have different packaging or have minor differences in labeling. Generics are allowed to have different inactive ingredients like flavoring or preservatives, but those ingredients must still be considered safe by the FDA. Finally, generics may also have a different expiration date than the brand-name. However, just like a brand-name product, the generic must still be effective until its expiration date.
Why are generics cheaper?
Making a new drug is expensive. A manufacturer’s costs for launching a new drug include research; large-scale testing; and advertising, marketing and promotion. Generic drug makers’ costs are relatively low because the product has already been developed and tested by the brand-name maker.
Should I be taking generic medication?
Generics aren’t available for all medicines. The best way to find out if a generic is available for a medication you’re taking — and if you should take it — is to ask your doctor or pharmacist. Some health insurance plans require you to use a generic drug if one is available. You may end up paying the full cost or a higher copay if you choose to purchase the brand-name product. Check your plan documents for details.
How can I save money on my prescriptions?
Resources like Clever RX or GoodRx may help you save money on prescriptions — sometimes up to 80 percent, often beating your insurance copay. And you can use them even if you have insurance, because even with the best insurance plan, some drugs may not be covered and you still have some out-of-pocket costs.
Clever RX is accepted at top pharmacies nationwide, including The Big Four: CVS, Walgreens, Rite Aid and Walmart. If you run into an issue at the pharmacy, Clever RX will advocate on your behalf. Just have the pharmacy call Clever RX at 888.879.7336.
Getting started is easy. You can:
- Print a Clever RX savings card.
- Download the app from the App Store or Google Play.
- Use 3004 for Group. Use 1248 for Member.
By the way, you can share that link and those codes with anyone you think might need or want to save money on prescriptions.
GoodRx is very similar. The key differences are that many times you can save more money with Clever RX and Clever RX prices are guaranteed — the price you see on the website or app is the price you’ll pay when you pick up your prescription.
To use GoodRx:
- Visit GoodRx.com.
- Download the app from the App Store or Google Play.
I need help. Who do I ask?
Your Keyser Client Advocates! You can email an advocate or call 877.381.3570. Advocates are available 24 hours a day, 7 days a week, 365 days a year.