Test your knowledge about generic prescriptions
Posted: April 08, 2019 | Word Count: 354
For the past quarter-century, Jonnie, 57, has kept a booth at the Antique Depot in Skiatook, Oklahoma. The job allows her a flexible enough schedule to take care of her elderly mother, who lives next door.
Holding estate sales and dealing in used merchandise has also made her an expert on spotting a bargain.
According to a recent Kiplinger article, switching to generic drugs from the brand-name version is a smart way to save money in your health care budget: “Generics can cost up to 85 percent less than brand-name drugs, and some plans have a $0 co-pay for ‘preferred’ generics. Your pharmacist can generally switch to a generic at the counter without asking your doctor. If your drug doesn't have a generic, ask your doctor or pharmacist if one is likely soon.”
Jonnie couldn’t agree more. “If it weren't for these generic medications, I don't know where my life would be,” she said. “I can afford things.”
Jonnie manages her heart condition with Metoprolol ER, the generic form of the brand-name drug Toprol XL. According to GoodRx, Metoprolol costs around $6, which is 81 percent less than the average retail price of $33.10 for the brand.
The generic drug industry supplies the vast majority of drugs prescribed in the U.S. Generic cardiac drugs, for example, help patients live longer, fuller lives, saving $47 billion in 2017, while savings for the past 10 years total $492 billion.
Jonnie also takes Rabeprazole for acid reflux. GoodRx reports that the generic form of medicine costs around $19.60 — 92 percent less than the average retail price of $250.41 for the brand.
Americans in every state are saving money by taking safe, effective, FDA-approved generic drugs. According to the latest data, generics saved patients in the U.S. a total of $265 billion in 2017, including $83 billion and $41 billion for those with Medicare and Medicaid coverage, respectively.
Think about the prescription drugs that you and your family take. Are you getting the most for your money?
You can take the quiz, "What’s Your Generic Drugs IQ?" at https://accessiblemeds.org/.