What is a “Formulary”?
A formulary, also called the “approved drug list,” is a list of brand-name and generic drugs that can be prescribed for members who have prescription drug coverage. Sometimes there are limitations to the coverage of a drug; the formulary should explain any of these limitations or conditions of coverage.
A formulary is a list of preferred medications that are safe, clinically effective, and economical. It is created, reviewed and updated by an independent committee of physicians and pharmacists. The formulary contains a wide range of generic and brand name preferred products that have been approved by the Food and Drug Administration (FDA). Your doctor can use this list to select medications for your health care needs, while helping you maximize your prescription drug benefit. Medications on the formulary may be purchased from contracted local retail pharmacies or through Express Scripts mail order.
The formulary is a list of medications that have been carefully selected for their medical effectiveness, positive results, and value. The formulary includes all generic medications and a defined list of brand medications. The formulary includes at least one drug in all classes of drugs. You maximize your benefits when you purchase formulary medications.
