Month: October 2012

The name of the health care reform law President Barack Obama signed on March 23, 2010.

The name of the health care reform law President Barack Obama signed on March 23, 2010.

The hospitals, health care professionals and labs that have contracted with a health plan to provide health care services.    When a provider is “in-network” they must discount their prices to you.

The part of Medicare that helps pay for prescription drugs. Insurance companies must be approved sponsors before they can offer Medicare Part D Prescription Drug plans.

The part of Medicare that helps pay for doctors and outpatient care.

The part of Medicare that helps pay for hospital care. It also covers nursing home, home health and hospice care.

A drug manufactured by a pharmaceutical company that’s chosen to patent the drug’s formula and register its brand name.  These patents run for 17 years before the drug can be marketed by a generic drug company at a much lower cost to consumers.

A prescription drug that has the same active-ingredient formula as a brand-name drug. A generic drug is known only by its formula name and its formula is available to any pharmaceutical company. Generic drugs are rated by the Food and Drug Administration (FDA) to be as safe and as effective as brand-name drugs. Usually, generics… Continue reading Generic Drugs

Used by insurance companies, a pre-approved list of preferred, commonly prescribed prescription drugs. These drugs are chosen by a team of doctors and pharmacists because of the drugs’ clinical superiority, safety, ease of use and cost (but mostly costs!).