Examples of Generic Equivalent in a sentence
The Member must pay the difference between a Brand-Name Drug and the Generic equivalent if the Member purchases a Brand-Name prescription drug when a Generic Drug equivalent is available.
In addition to the Copayment/Coinsurance, if the Member chooses a Brand-Name drug for which a Generic substitute is available, the Member is required to pay the difference between the cost of the Brand-Name drug and the Generic equivalent.
Pay any applicable Calendar Year Deductible and Copayment or Coinsurance (as well as the Brand Additional Charge if you or your Physician choose a Brand Medication when a Generic equivalent is available) shown in your Schedule of Benefits.
The Member is responsible for a $25.00 copayment for each Brand Name Prescription Drug or refill listed on the Prescription Drug Formulary, plus the difference in Prescription Drug Covered Expense between the cost of the Brand Name Drug and its Generic equivalent, unless a Generic Drug equivalent is not available or a Brand Name Drug is Medically Necessary.
Generic equivalent drugs shall include, but not be limited to, any drug listed by the Food and Drug Administration list of therapeutically equivalent drugs as contained in APPROVED DRUG PRODUCTS.