Brand-Name Drug

Brand-Name Drug

Sat, 02/15/2020 - 16:58

A drug sold by a drug company under a specific name or trademark and that is protected by a patent.

♦ Brand-name drugs are usually available by prescription. It is common for insurance companies to classifications these drugs as: Preferred Brand and Non-Preferred Brand.

Preferred brands normally have a set copay amount. Non-preferred brands will cost you more than preferred brands.

Non-preferred brands have the highest copay amount or you may be required to pay a percentage of the drug’s cost.

Some insurance plans may have a separate deductible for brand drugs.

• The main purpose for these higher costs for brand drugs is to encourage people to use Generic drugs.

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Brand-name drugs

Generic drugs