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The Value Formulary
Similar to the three-tier Select Drug Program® Formulary, the Value Formulary includes all FDA-approved generic drugs, preferred brand drugs, and non-preferred drugs, subject to the standard exclusions. All drugs have been selected for their clinical effectiveness, safety, and value; and the formulary will be reviewed and updated regularly in order to ensure that the drugs continue to meet these objectives.
The Value Formulary is different from the Select Drug Program Formulary in that approximately 77 drugs are excluded from coverage. All of these drugs have formulary alternatives covered in the Value Formulary.
Effective Use of the Formulary
Help your Independence Blue Cross patients make the most of their health care dollars. Before prescribing a medication to an Independence member, please consider whether the drug is included in the Value Formulary. If a member is currently taking a drug not on the Value Formulary, you may be able to help him or her save money by changing the prescription to a generic equivalent or to a similar drug that is on the formulary.
As the patient's healthcare provider, however, we recognize that you are best qualified to choose the most appropriate medication for your patients.