Question

The list of medications covered by a policy is known as

Answer 1

The list of medications covered by an insurance policy is called a formulary, which lays out the covered drugs and associated patient cost-sharing details.

Step-by-step explanation:

The list of medications covered by a policy is known as a formulary. Health insurance providers use formularies to specify which medications are covered under a particular health insurance policy and which are not. The formulary may be broken down into tiers based on cost-shares, such as copays and coinsurance, for different drugs. Patients may pay different out-of-pocket costs for drugs depending on which tier they fall under in the insurance plan's formulary.