formulary

noun

for·​mu·​lary ˈfȯr-myə-ˌler-ē 

plural formularies

1

: a collection of prescribed forms (such as oaths or prayers)

2

: formula sense 1

3

: a book listing medicinal substances and formulas

formulary adjective

Examples of formulary in a Sentence

Recent Examples on the Web

Starting in 2012, PBMs began threatening to exclude certain medications from their formularies – the list of medications covered by a health insurance plan – unless drug manufacturers paid higher rebates, according to the complaint. —Tami Luhby, CNN, 20 Sep. 2024

Because of that market power, PBMs can demand significant discounts from drug makers in exchange for prime placement on a health plan's formulary. —Sally Pipes, Forbes, 16 Sep. 2024

With a tiered formulary, less expensive yet effective medications are more accessible to employees, which minimizes the financial burden on the company's healthcare plan. —Scott Paddock, Forbes, 13 Sep. 2024

Insurance coverage: Some insurance companies may not cover Paxil or Lexapro and may prefer a medication based on its formulary. —Alex Yampolsky, Verywell Health, 9 Sep. 2024

Word History

First Known Use

1541, in the meaning defined at sense 1

Medical Definition

formulary

noun

for·​mu·​lary ˈfȯr-myə-ˌler-ē 

plural formularies

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