What do “Preferred Generic,” “Preferred Brand,” “Non-Preferred Brand,” and “Specialty” mean?

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What do “Preferred Generic,” “Preferred Brand,” “Non-Preferred Brand,” and “Specialty” mean?

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Some Medicare drug plans require you to pay a percentage of the drug’s cost, others have set copayments for certain drugs, and some have a combination. If a plan has copayments, the amount you pay varies by category. The four categories are Preferred Generic, Preferred Brand, Non-Preferred Brand and Specialty.