formulary

Much like how YouTube TV offers a channel lineup, a pharmacy benefit manager like CVS Caremark offers a formulary of some—but not all—drugs covered by insurance.

“The limitations of those machines are still the same, though. It’s a limited formulary.”

You can also look up the document known as a formulary, which lists the drugs that a plan covers.

You can find your drugs on the plan’s formulary—the list of covered drugs—and compare that against the costs outlined for each coverage tier in your annual notice of change.

Finally, PBMs use their consolidated power to keep drugs off of health plan formularies — unless manufacturers pay exorbitant fees.