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Know Your Plan: Formularies

Question 4: Can my formulary change?

Even though a plan's formulary must be approved each year, plans can change their formularies more than one time each year. A plan might choose to change its formulary in order to add a new medication that just came on the market or that the plan did not previously cover. A plan may also delete a medication from the formulary and no longer cover it, or a plan can move a drug to a different copay tier. It is important to note that it is not usually possible to switch to a new drug plan until the annual open enrollment period, even if your current drug plan deletes one or more of the medications you are taking from their formulary mid-year.