Drugs: How To Save Money When Buying Or Using

*A "generic" drug is a version of a drug which has the same active ingredients as a brand drug, but without the brand name.  When manufactured by the same company as the branded version, the drug is known as a "sister drug." For our purposes, these are all generic drugs.

Purchasing a generic version of a drug can be a big money saver. Generic versions of drugs are not like fake knockoffs of designer clothes and accessories. They are the real deal. The color, shape and size may be different, but the active ingredients are the same. In fact, generic drugs are regulated by the FDA the same way that branded medications are regulated.

The cost savings of purchasing a generic drug as compared to a name brand product can be as much as 95%. According to Consumer Reports, nearly 75% of all medications are available in generic version.

It is up to you to let your doctor know that money is a concern, and that you would like to be prescribed generic versions when possible. Doctors often do not take cost into consideration when writing a prescription. Due to habit, they often continue to prescribe a brand name drug long after a generic version is available. 

You can find out if there is a generic equivalent to a particular drug by any of the following methods:

• Ask your doctor
• Ask your pharmacist
• The internet, for instance:
  • Medicare.gov  You can enter the brand name of a drug you take. The site will give you generic alternatives.
  • www.rxaminer.com  
  • www.fda.gov/edcr/ob/default.htm . 
• Generic Alternatives to Prescription Drugs (Basic Health Publications) is a handy reference that provides cost comparisons for more than 500 prescription and generic drugs.

IntegrityMeds.com is an online service that sells generics at cost. The site adds a $1 fee for each drug and a $10 order-processing charge (per shipment). Standard shipping is free.

If you have questions about generic drugs, contact the Generic Pharmaceutical Association at www.gphaonline.org .

NOTE: If your doctor won't prescribe a generic drug, or forgets, ask your pharmacist. In most states, a pharmacist can substitute the generic version of a brand-name drug.

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