formulary
noun
for·mu·lary
| \ ˈfȯr-myə-ˌler-ē
\
\
plural formularies
Definition of formulary
1
: a collection of prescribed forms (such as oaths or prayers)
2
: formula sense 1
3
: a book listing medicinal substances and formulas
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Examples of formulary in a Sentence
Recent Examples on the Web
The administration declined to approve a bolder proposal from Massachusetts to use a formulary to exclude some drugs from Medicaid coverage, a common negotiating tactic for commercial plans. — Erin Mershon, STAT, "Mass. gets a thumbs-down on negotiating Medicaid prices, but Oklahoma wins on ‘value’ rebates," 27 June 2018 The hospital’s pharmacy and therapeutic committee determines which drugs are on its own formulary (completely separate and unrelated to a health insurance plan). — Julie Washington, cleveland.com, "Ohio doctors, patients frustrated by policy that requires switching medications: Survey finds," 25 July 2019 Medication formularies in use today can allow pharmacists to substitute similar and bioequivalent medications under certain specified conditions which can translate into a program easily and quickly deployed. — Letter Writers, Twin Cities, "Letters: For people who need medicine to survive, let’s solve this problem now," 9 June 2019 These formularies are lists of medicines for which insurance coverage is provided, but there are different tiers, or levels, and insurers were continually placing more generics on higher tiers that require greater out-of-pocket spending. — Ed Silverman, STAT, "Seniors paid more for generics in Medicare Part D plans," 22 May 2018 The bill, which cleared the Senate Thursday after a Wednesday House vote, also would require insurers to put medications approved for addiction treatment on low tiers of prescription formularies, limiting patients’ out-of-pocket costs. — Lisa Schencker, chicagotribune.com, "Legislature passes bill to improve insurance coverage for mental health, addiction," 1 June 2018 If drugs are not on the formulary, the drug company loses business since the drug will either not be covered by the health insurance plan or the patient will have to pay much more out of pocket to get it. — Scott Knoer, STAT, "What does PBM stand for? In Ohio (and elsewhere), it’s programs bilking millions," 29 June 2018 Insurers have formularies with different co-pays for different drugs, and some may not be covered. — Liz Weston, The Seattle Times, "Liz Weston: How to save money on health care," 22 Oct. 2018 Pharmacy benefit managers negotiate rebates with drug companies to have their drugs placed on the PBM’s formulary (the list of prescription drugs covered by a prescription drug plan). — Scott Knoer, STAT, "What does PBM stand for? In Ohio (and elsewhere), it’s programs bilking millions," 29 June 2018These example sentences are selected automatically from various online news sources to reflect current usage of the word 'formulary.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for formulary
formulary
noun
for·mu·lary
| \ ˈfȯr-myə-ˌler-ē
\
\
plural formularies
Medical Definition of formulary
1
: a book containing a list of medicinal substances and formulas — see national formulary
2
: an official list of generic and brand name pharmaceutical drugs designated by a health insurance provider as approved for coverage under the provider's pharmacy plan benefits