IBC Select Drug Program^® Formulary Changes - Effective 1/1/08

Effective January 1, 2008 a number of changes will take place to IBC’s Select Drug Program^® formulary and the guidelines concerning procedures that support safe prescribing.

A drug formulary is a list of prescription medications that a drug plan will pay for.  When medications are not listed on a prescription drug plan formulary, then the drug plan will not pay for them unless an exception is granted.

The formulary is the key to IBC’s Select Drug Program^®. The formulary includes all generic drugs and a defined list of brand drugs all of which have been selected for their medical effectiveness, safety, and value.

To ensure the continued effectiveness of the drugs on the formulary as well as the procedures for safe prescribing, the Pharmacy and Therapeutics Committee conducts regular reviews. The Pharmacy and Therapeutics Committee is primarily composed of practicing physicians and pharmacists in this area. As a result of the committees recent reviews, were implementing several changes, including:

• Additions of generic drugs to the formulary;
• Addition and deletion of brand drugs to or from the formulary;
• Additions to our list of drugs that require the doctor to obtain prior authorization.

Please note: The brand drug being removed will now be covered at the highest non-formulary cost-sharing level.

Click here to view the list of “Formulary Updates” effective January 1, 2008

Click here to view a .PDF of the “New Formulary Guide”

WHAT HAPPENS NEXT?
All employer groups and members with Select Drug Program^® coverage will receive a letter from IBC about these changes and an updated formulary guide.

Letters will be sent directly to IBC members who are affected by the removal of the brand drug and will include a message urging them to contact their doctors to discuss formulary alternatives, including possible generic drugs. If a doctor decides a formulary medication is appropriate, the member will need to ask for a new prescription for the formulary medication.

WHAT SHOULD I DO NEXT?
The Formulary Drug List plays a critical role in the success of your prescription benefit plan. The medications included are selected to provide the best therapeutic options to you at the lowest cost. It's a good idea to take a copy of the Formulary List when you visit your physician. Many pharmacies will alert you when a prescribed drug is not on your formulary. Formularies may be changed by the carrier at any time.

To learn more about the use of generics drugs and how you can lower your healthcare costs, please contact Corporate Synergies at 1.866.CSG.1719, or click here to contact us today.

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