Brand Name Prescriptions

With regard to Medicare Part D Plans, brand named prescriptions are usually covered under Tier 2 or 3 of Medicare Part D plans. The retail costs of brand named prescriptions is higher than those of generic prescriptions, so the associated co-pays for brand named prescriptions are higher. Brand-name drugs generally have patent protection for 20 years. This protection enables the pharmaceutical company that developed the drug to recoup the costs of the research and development. When the patent expires, other pharmaceutical companies can develop generic versions.