Generic Products vs Brand Name Essay

1116 Words Apr 28th, 2012 5 Pages
Do generic products really save you money?

With the price of living getting higher and higher as very year passes, people are looking for alternative ways to save money. The main reason for buying generic products, saving money, is simple enough. But there's also the satisfaction of not giving in to the marketing hype and buying something just because a company promotes it everywhere. The generic labels may not be as fancy as the brand-name products, and the taste of generic items, such as soda, may not appeal to you depending on your taste buds, but it's worth trying generic brands to see if you like them. The savings can add up over a lifetime, as a savings calculator can quickly show you. And if the savings isn't enough, or the
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In general, generic cough and cold medicines are much cheaper and just as effective as branded medications, she said. While generic works for most over-the-counter medicines, prescription medicine is something that shouldn't be switched back and forth between generic and brand names, she said. Absorption of prescription, as well as over-the-counter, medications could be different between different products, so sticking with brand or generic and not switching back and forth, especially with prescription medications, is important, she said. Insurance companies prefer that doctors write for generic prescription medications instead of branded medications because the generics are cheaper, but if the branded label works better for the patient, a doctor can write to the insurer and explain that the branded product is needed, Rosenbaum said. Be persistent, communicate with your doctor and pharmacist, and stick with one pharmacy for all your prescription medications so the pharmacist has an accurate history of all your prescription and over-the-counter medications, as well as dietary supplements you are taking, she recommended. According to the Consumer Report, the best deal for medications is the $4 program that pharmacy's are using for the generic prescription drugs.
Cereal is one of the biggest values when buying generic equaling 25% to 50% in savings. A $5.50 box of brand-name cereal can