Generic Vs. Brand Name Medications
Generic drugs save everyone money including the consumer and insurance companies. Many people fear generic drugs mean a lesser quality medication than a brand name, yet the generic equivalent must undergo the same FDA scrutinization as brand name drugs.
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Features
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Many brand name companies also produce generic equivalents. Nearly 50 percent of brand name also manufacture a generic, reports CareFirst of Blue Cross and Blue Shield.
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Generic
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Generic drugs include the exact same active ingredient as the brand name; the difference is the name of the medication and the color or shape.
Brand Name
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Brand name drugs are considerably more expensive because of marketing ventures. They spend a great deal of advertisement dollars that force them to raise the cost of the drug to counteract it.
Significance
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The main difference between generic and brand name medications is price. Most insurance companies will only pay for the generic equivalent if there is one available.
Considerations
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Wal-Mart and other pharmacies are now selling several generic drugs for $4.00 without insurance; those with no insurance can afford their medications because of the generic manufacturers.
Final Thoughts
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Americans without drug benefits save hundreds of dollars annually by using generic medications, without these generic versions, many people would be without their medications.
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