Dear Ally, What is a formulary, and why is it important?

~Meg

Dear Meg: A formulary is a list of prescription medications covered by your health insurance plan. It is important because it dictates which medications are available to you and at what cost. For individuals with bleeding disorders, ensuring that your prescribed factor products or other necessary medications are included on your plan’s formulary is crucial. If a needed medication isn’t listed, you may face higher out-of-pocket costs or need to go through a prior authorization process. If you need assistance reviewing your policy’s formulary list, the Hemophilia Foundation of Maryland (HFM) is here to help.