Insurance terms

Welcome to our terminology page! Here, you'll find a comprehensive list of key terms and definitions relevant to the health insurance space.
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Generic Drug

Once a brand-name drug's patent expires, other companies can offer the same medication at a lower cost as a generic drug. These alternative versions contain the same active ingredients and work just as effectively but without the hefty brand-name price tag. Choosing generic drugs is a smart way to manage your healthcare expenses while still getting the necessary medication.