Medicare Matters. Amerihealth 65 for medicare Beneficiaries

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Drug formulary — generic and brand-name drugs

You will find that both generic and brand-name drugs are covered on the drug formulary. However, you will probably also notice that generic drugs usually cost less than brand-name drugs.

Generic Drugs: Generic drugs have the same active ingredients as their brand-name drug counterparts. They usually cost less than brand-name drugs and are rated by the Food and Drug Administration (FDA) to be equally as safe and effective. For individuals who must take several medications regularly, generic drugs offer the advantages of being comparable to brand-name drugs at a more affordable cost.

Brand-Name Drugs: A brand-name drug is a patented, FDA-approved drug usually produced by a single manufacturer with a product name under which the drug is advertised and sold. Newer drugs are usually available only as brand-name drugs. A brand-name drug may have an equivalent after the original patent expires.