Types of Drugs
Generic drugs: prescription drugs that have the same active ingredient as brand-name drugs, are required by the Food and Drug Administration (FDA) to be as safe and effective as the brand-name drug and usually cost less than brand-name drugs. Generic drugs appear in lower case italics in your formulary.
All generic drugs are covered even if they are not in the formulary for your Part D plan, except those drugs not covered by Medicare.
Brand-name drugs: prescription drugs that are protected by patent and typically produced and sold by one manufacturer. Brand-name drugs appear in ALL CAPITAL LETTERS in your formulary.
- preferred brand: brand-name drugs that are included on a preferred drug list and are usually available at a lower cost than non-preferred brand-name drugs.
- non-preferred brand: brand-name drugs that are not on the preferred drug list but are still included in the Part D plan formulary.
- specialty drugs -- high-cost, biotech and other unique drugs used to treat specific conditions. Limited to a 30-day supply each time you get your prescription filled.