Definitions
Health Insurance Terms
Formulary

Formulary

Definition:

A listing of pharmaceuticals the health plan pays for.

Application:

For those individuals who are either purchasing a plan or are appealing a non-payment from the health plan on a medication, it is necessary to review the plan's formulary to verify 1) if the plan denied the payment accurately and 2) to verify that a needed medication will be covered by the insurance company.

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