However, the cost of prescription drugs is picking up steam. The term refers to the effect the Clinton administration's health care reform efforts had on the cost of prescription drugs and medical services. Now that public outcry and congressional inquiries into drug price inflation have died down, companies are gearing up to recapture price increases they put off the last couple of years. In fact, the cost of prescription drugs has become a significant portion of your total monthly health insurance premium. Generic drugs can save money One way to save yourself and your group health plan some money is to use generic prescription drugs whenever possible.
Generic drugs cost substantially less than brand-name drugs.
While millions of people have been safely using generic drugs for years, a few people still have misgivings about their quality. To gain FDA approval, a generic drug must be chemically identical to the brand name drug it replicates. In addition, for a generic to be regarded as interchangeable with the original, its active ingredients must be identical, and the generic must be the bioequivalent of the original. Bio-equivalency means the active ingredients in a generic must be absorbed by the body at the same rate and with the same effects as a brand name. Of course, there are occasions when a physician will not want a generic to be substituted for a brand name drug for medical reasons.