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.