About Generic Prescription Programs

You may seen the commercials or read in the news about popular drug or grocery-store chains like Walmart, CVS, Target and Walgreens announcing their generic prescription drug programs. Approximately 70 million Americans have taken advantage of these programs, according to University of Michigan.

Identification

• Only generic medications are available. These drugs are identified by the chemical name, not the brand, or trademarked, name.

Features

• Since 2006, these generic prescription programs have been offering prescribed generic drugs at flat-rate prices. For instance, you will often pay $4 for a 30-day supply of a generic prescription drug is that offered under the program.

Significance

• Typically, you can participate in the generic prescription drug programs if you are either uninsured or currently insured by a health-insurance provider. If you are insured, the flat rate may actually be cheaper than your insurance copay.

Types

• The specific type of generic drugs available to you at a discounted rate depends on the individual generic prescription programs.

Warning

• If you want to take advantage of any of these programs, make sure your physician writes or checks off the phrase "or generic equivalent" on your prescription, according to Operating Engineers Trust Funds.