Even though TV ads for new prescription drugs spend more time listing all of the cons of the drug than the pros, people are still driven to try new medications. And physicians seem eager to write prescriptions for new medications. However, it’s important for employees to understand that just because a drug is FDA-approved, well-known or popular, doesn’t mean the drug is going to be covered by their plan or contracted pharmacy benefit manager (PBM). CVS Health recently announced it’s going to exclude 31 prescription drugs from its formulary next year, including Viagra and widely used treatments for diabetes and multiple sclerosis.
How are you communicating your cost-saving prescription drug program to your employees? Are you sure they understand what’s covered by the plan or the PBM’s formulary, or if they even know what a formulary is?
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