At CVS Caremark, our goal is to help you take care of your health. We realize the medications you need to do so can be costly. With Value Formulary plans you can have medications to treat your condition and may save you money too.
What is a formulary?
A formulary is a list of medications that are included on a prescription benefit plan. The plan will cover the medicines that are on this list, provided they are being used appropriately.
What are Value Formulary plans?
There are two versions of Value Formulary: Value Formulary and Value Formulary Tiered. Read the descriptions below to find out which version your plan has.
This version covers generic medications and listed brand medications. Plans of this type do not cover unlisted brands.
Example: For high cholesterol, the plan covers generic medications (such as atorvastatin), but does not cover Crestor®.
What This Means for You: Ask your doctor to write a prescription generic or listed brand prescription drug, if your current prescription is for an unlisted brand. This way the drug will be covered at your pharmacy, and will help you avoid paying more for your prescription.
Value Formulary Tiered
This version covers generic medications and listed brand medications. VF Tiered plans cover unlisted brands, but at a higher cost to you. You may pay up to the full cost of the unlisted brands to fill these prescriptions.
Example: For high cholesterol, the plan covers generic medications (such as atorvastatin), and covers Crestor® at a higher cost to you.
What This Means for You: Ask your doctor to write a prescription for a generic or listed brand prescription drug, if your current prescription is for an unlisted brand. This will help you avoid paying more for your prescription.
What makes a prescription benefit plan “high value”?
A plan is “high value” because:
What does having a Value Formulary plan mean for you?
In many cases, having a Value Formulary plan means you will pay less out-of-pocket costs for plan medications than you did with your previous plan.† You may also have lower premiums each pay period, depending on your plan sponsor. With a Value Formulary plan, you will have access to the medications in every therapeutic class, and may even pay less for them.‡
The Value Formulary includes medications that have health benefits and could help you save money. It does not include medications that cost more and may not work better than lower-cost options. You may be required to pay up to the full cost of these medications, depending on your plan.*
Certain brand medications are not part of the Value Formulary for some of the most common short-term and long-term conditions. This list also provides lower-cost plan medications for these conditions. Ask your doctor to consider these medications instead of higher-cost brand medications.
* The plan's medication list covers all disease states. Life-style-related treatments (i.e., anti-obesity, cosmetic, erectile dysfunction and fertility agents) may not be included or may be included at a higher cost. Plan is limited to generic medications and some brand names when a generic is not available in the class. Medications that cost more but may not work better may be offered to members at up to the full-cost, depending on their plan. Coverage may vary, please consult your plan for further information.
Today, most prescription drug classes include several options. Some are higher-cost brand-name drugs and others are lower-cost generic options. Choosing a generic medication can save you money each time you fill your prescription while still safely and effectively treating your condition.
It’s a good idea to ask about generic options every time your doctor prescribes a new medication, and talk to your pharmacist about generics each time you fill a prescription.