A list of drugs that are covered under an insurance plan is called the?

A list of drugs that are covered under an insurance plan is referred to as a formulary. This terminology is significant in the context of healthcare and insurance because a formulary provides patients and healthcare providers with essential information about which medications are covered by the insurance plan, their associated costs, and any specific requirements for obtaining these medications.

A formulary is often organized into tiers, which categorize drugs based on factors such as effectiveness, cost, and whether they are generics or brand-name medications. These tiers can influence the out-of-pocket costs for patients when filling prescriptions. However, the overarching term that encompasses this list of covered medications is indeed the formulary.

Understanding the formulation of drugs and their coverage is crucial for both healthcare providers and patients, as it can affect treatment choices, medication adherence, and overall costs. Other terms like "pharmacy benefit" might refer to broader aspects of drug coverage, but the specific list of covered medications is accurately identified as the formulary.