Generic drugs in the United States may become available after the patent protections granted to the original developer have expired. The FDA (Food and Drug Administration) allows the drug manufacturers to have exclusive rights to the sales because they spend millions on research and development before a drug may be brought to market.

For seniors on Medicare

Advantage plans or Medicare Supplemental insurance plans what they pay for the drug is important but so is the overall cost of the drug. That’s because Medicare Supplemental insurance plans and Medicare Advantage plans take what the insured pays and what the prescription plan provider pays and adds the two amounts together.When the two amounts together reach retail costs of $3,310 for 2016 the insured is in the “donut hole.” Another way to calculate what your maximum prescription costs will be to get to the donut hole is to calculate 25% of $3,310. Once in the hole you will pay 45% for all brand name drugs until you spend a total of $4850 for 2016 to get out of the gap.


Every Medicare Part D and Medicare Advantage provider has what they call a formulary list. On that list will be what they consider to be generics.The drugs on the list are different with every Medicare Part D and Medicare Advantage provider. Generics must contain the same ingredients as the name brand drug. According to the FDA “generic drugs are identical or within an acceptable bioequivalent range to the brand name counterpart with respect to pharmacokinetic and pharmacodynamic properties.”Huh?One thing to bear in mind is that the FDA language of “identical” is a legal term and not meant to be taken literally. Generic drugs may change things from red dye in the name brand to blue dye in the generic.


Among The Brand Name Drugs Going Generic In 2015 Are:

Abilify, used to treat depression will be generic in April

Micardis, treats high blood pressure goes generic in January

Exforge, used to treat high blood pressure goes generic in September

Nasonex, for nasal symptoms goes generic in July

Lunesta, used to treat sleep problems goes generic in May

Celebrex, used to treat arthritis goes generic in May

Combivent for Chronic Obstructive Pulmonary Disease or COPD goes generic in December


Its impossible to know exactly what the costs for the generic drugs will be.Generics will save you money though.For example Prozac became generic almost ten years ago and sells for $16 for a one month supply today.The agents at Insurance Medics would be happy to help you find the most cost effective plan for you be it a Medicare Supplement insurance plan with a Part D prescription plan or a Medicare Advantage plan that has a drug plan included. Give us a call today.