The amount you pay for health care services before your health insurance plan begins to pay. For example, if your deductible is $1,000, your plan won't pay anything until you've spent $1,000 on medical care or medications. However, some services, including preventive services, may not be subject to the deductible. Be sure to check your plan.
A list of medications covered by your pharmacy benefits. Formularies often have tiers with different levels of cost-sharing or coinsurance assigned to particular medications or therapies. Services assigned to a higher tier typically cost more than those assigned to a lower tier.