When generic medications were introduced, most people were reluctant to try them because they believed the generic brand wasn’t as good or didn’t work as well as the name brand. That attitude changed especially with insurance companies providing support for generic brands only unless, that is,  a physician specifically prescribed a brand name WITH a reason for doing so.

That same attitude, about not trusting the product, is applied to store brand names for over the counter (OTC) products and medications.

Attitudes are beginning to change because today, the store brands, sometimes called private labels, are considered just as good as or better at times than national brands. Many are realizing that purchasing store brands is a smart way to save money.

It’s not unusual for baby boomers to purchase commonly used branded drugs such as Tylenol, Advil or Prilosec to treat a range of minor ailments. However, if you’re on a tight budget those are going to cost a lot more than the store-brand versions of the same drugs. The store brand products contain the same ingredients and are considered just as reliable and safe as the branded drugs. The only difference seems to be the cost. You may also want to consider choosing from off-brand alternatives.

According to the FDA these generic versions of our branded favorites contain the same active ingredients and are just as strictly regulated by the FDA. After all, they’re the federal agency that makes a prescription drug available over-the-counter so that more people can afford to have access at lower costs. For some people, the over the counter may raise the cost because insurance plans don’t cover these meds.

Before you make the switch, know how much it will cost. You could save as much as 30 percent by swapping a store brand or private label for a brand name. Keep in mind  that many supermarkets, discounters, warehouse clubs and drugstores carry their own brands. CVS pharmacy, America’s largest retail pharmacy sells its own brand in just about everything.

Many people make the mistake and assume that the branded versions of the drugs re more rigorously tested for safety and side effects and they may work faster.  NOT SO. The FDA regulates both types and the pharmaceutical companies that manufacture unbranded OTC drugs have to follow the same strict regulations that apply to the brands.

More about unbranded products in my next post. Then you’ll know most of what you’ll need to decide whether to purchase the brand or the unbranded.

To your successful healthy aging,

Ruthan Brodsky

http://ruthanbrodsky.com

http://fromRetirementToCareerChange.com

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