The first time the pharmacist asked if I wanted the generic version, I said no, because I assumed the brand name was somehow better. Then I saw the price difference and asked what I was actually paying for. The answer was mostly marketing.

Generic medicines are the same drug, the same dose, the same effect, and usually a fraction of the price. Here is why that is legal and how to actually save with it.

Same active ingredient, different box

A generic medicine has the same active ingredient as the brand name, at the same strength, doing the same job in your body. What it does not have is the brand’s advertising budget, which is a big part of what you are paying for with the name brand.

The approval rules are strict. A generic has to prove it delivers the drug to your bloodstream at essentially the same rate and amount as the original before it can be sold. It is not a watered down version.

How to actually save

• Ask the pharmacist if a generic exists. For most common medicines, it does.
• Compare the active ingredient on the label. If it matches, it is the same drug.
• Check the price at a couple pharmacies. The same generic can cost wildly different amounts at different places.

The one thing to keep in mind: the inactive ingredients, the fillers and dyes, can differ. If you have a known allergy to a specific filler or dye, check the label. For most people this never matters.

I still check with my doctor when I am unsure, but switching to generics for the everyday stuff has saved me a real chunk of money over the years, and I have not noticed a single difference in how they work.