Senior citizens may have a new way to save money in this recession thanks to a new study claiming brand-name drugs work just as well as generic medicine.
Dr Aaron Kesselheim led the research, which focused on drugs given as treatment for heart and other cardiovascular conditions. The doctor also examined the results of 30 studies done since 1984 comparing heart medicine with generic pills.
Yesterday, Kesselheim revealed the team's findings, which go against the common perception that the more expensive, brand-name medicine was better than its generic counterpart.
"Generic drugs are available for nearly every condition but generally are underused in the marketplace, and one of the reasons they're underused is that there is a perception out there among physicians and patients that brand-name drugs are better than generic drugs," Kesselheim told the Washington Post.
This may be good news for seniors still choosing a Medicare plan before the enrollment deadline of December 31st.
Because of a section in the plan dubbed Part D, seniors whose drug costs go past $2,700 will cease to get additional financial help from the government. Choosing generic drugs may help them stay below that mark.