Formulary

The definition of Formulary, and how it fits into the Zenefits Health Insurance Marketplace

What is a formulary?

A list of prescription drugs covered by the health plan, often structured in tiers that subsidize low cost generics at a higher percentage than more expensive brand-name or specialty drugs

 

How does a formulary work?

With a formulary, covered individuals can better understand their level of commitment when it comes to purchasing either generic or brand name prescription medications.