What Is A Drug Formulary?

By Clove | Updated: Sept. 11, 2024, 8:06 a.m.

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If your medication is too expensive, there are other options, mainly by switching drug formulary tiers. A drug formulary is the prescription drug coverage provided by a healthcare plan. There are 4 different tiers to choose from, and EZ.Inusre can help you decide which the best plan so you can save money. Learn more about drug formularies here: https://www.ez.insure/landing/2020/05/what-is-a-drug-formulary/

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There is a lot to consider when choosing a health insurance plan: 
• Deductibles
• Premium Costs
• Network
Prescriptions are expensive. 
If you’re managing a condition that requires medication
you really need to look at how prescription drugs are covered.
To know how much you'll pay out-of-pocket
You'll have to look at your drug plan's formulary
Fortunately, insurance companies are required to include them
in their plans
But they aren't always covered in full. 
Understanding a Drug Formulary
Presents:
DRUG FORMULARY
is a list of generic and brand name drugs that are covered by a healthcare plan
+ how much you will pay in copays for each
DRUG FORMULARY
This amount can change depending on which plan you choose
So it's important to pay attention!
If there is a specific drug you need, check to see if it's listed on one of the four tiers of coverage. 
These tiers are ranked by cost.
1
2
3
4
 Insurance companies consider drugs in
Tier 1 and Tier 2 as “preferred”.
Meaning they're more likely to cover them.
DRUG FORMULARY
These tiers are ranked by cost.
1
2
 Insurance companies consider drugs in
Tier 1 and Tier 2 as “preferred”.
Meaning they're more likely to cover them.
And you pay less. 
Having all of this information means you will be able to choose the best plan for your needs. 
But doing all of this research can be time consuming
Let EZ.Insure help! 
Our expert agents can compare plans in seconds, and answer all of your questions about prescription drug coverage.

Connect with an expert today.
Get a quote

What Is A Drug Formulary?

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