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Formulary
A formulary is a list of the drugs covered by a prescription drug
plan.
This year, we revised the survey question about formulary structure
to reflect the range of formulary options prevalent in the marketplace.
In prior years, respondents could specify one of just three choices:
open, closed or incented. This year, the 273 employers using a formulary
— 89% of respondents — have it structured with multiple
tiers (see Figure 3).
Closed formularies have almost disappeared, replaced by formularies
with multiple tiers that require members to pay more for more expensive
drugs instead of limiting access to therapies. Closed formularies
do not cover those drugs not included on the drug list.
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