February 23, 2012

Saving Money on Generics

Did you know that buying generic drugs actually comes recommended as a way to save money? It’s true. Although you might think that generic versions of prescription medications might be less safe or less effective, this has been found to not be the case at all.

Partially, this is all because the Food and Drug Administration (or the FDA) requires that all generic drugs have the same active ingredients as whatever branded or patented drug is being copied or replaced by the generic version. Therefore, in theory the generic version should be just as effective as the name brands, and this is in fact typically the case. What this all means of course is that, ultimately,  you can get the same effect for a price that is generally cheaper! Cough and cold medicines in particular have been noted for being much cheaper than their branded counterparts, and just as effective.

With that said, there are some precautions to take. Mainly, if you are taking prescription drugs, it isn’t a good idea to switch back and forth between a regular prescription version and an over-the-counter, generic version without first seeking doctor approval. In fact, it is generally better to start off by telling your doctor that you would be fine taking generics or would even prefer to do so, and insurance companies are generally all too happy to have patients on cheaper drugs, which could mean less fighting over costs. In any case, if at all possible, it’s best to stick with one pharmacist that knows all of your medications and supplements, so they can give you safe and effective advice, whatever medications you might be taking.

Given a little shopping around, generics can be a great way to save some money.