What is a Formulary?
The Elevate Medicare Advantage formulary (Drug List) is a preferred list of drugs selected to meet the needs of Medicare members.
Elevate Medicare Advantage may add or remove drugs from the formulary during the year. If we remove drugs from our formulary, or add prior authorization, quantity limits and /or move a drug at a higher cost sharing tier, we will notify you of the change at least 60 days before the date that the change becomes effective. If the Food and Drug Administration deems a drug on our formulary to be unsafe or the drug’s manufacturer removes the drug from the market, we will immediately remove the drug from our formulary and provide notice to members who take the drug. Please refer to the transition process for more information.
Elevate Medicare Advantage covers both name brand drugs and generic drugs. Generic drugs have the same active ingredient formula as a brand name drug. Generic drugs usually cost less than brand name drugs and are rated by the Food and Drug Administration (FDA) to be as safe and effective as brand name drugs.