Categories of Prescription Drugs
Your prescription drug coverage depends on the type of drug your doctor prescribes and where you fill your prescription. Prescription drugs are split into two main categories — traditional drugs and specialty drugs.
- Traditional drugs, also known as non-specialty drugs, are usually the ones which most people are familiar with and represent the majority of prescription drugs used. This includes medicines used to treat common conditions like high blood pressure, diabetes and asthma, and most short- term medicines used to treat acute conditions like coughs, flu and infections. Traditional drugs generally don't have special handling or shipping requirements, are available at most pharmacies, and are lower cost.
- Specialty drugs are generally used to treat complex medical conditions such as rheumatoid arthritis, multiple sclerosis and psoriasis. These drugs include biological drugs, often require special handling, such as refrigeration, and are generally not available at the majority of pharmacies. Additionally, specialty drugs are usually higher cost.
JPMorgan Chase uses CVS Caremark's lists of covered and excluded drugs. An independent committee made up of pharmacists, physicians and medical ethicists reviews and approves the drug lists (also known as Formularies). These lists are subject to change quarterly by CVS Caremark. The following drug lists are available on CVS Caremark's website, on the Covered Drug List (Formulary) section of the Plan & Benefits tab, available through My Health > Medical, Rx, MRA & Spending Accounts > My Prescription Drugs:
- CVS Caremark Standard drug list: a guide that includes covered generic and preferred brand name traditional drugs.
- CVS Caremark Specialty drug list: a guide that includes covered generic and preferred brand name specialty drugs.
The CVS Caremark Standard and Specialty drug lists are not all-inclusive lists of covered drugs. Both drug lists include covered drugs grouped by drug category, alphabetically for quick reference, and also include a complete list of excluded/not covered drugs along with their preferred alternatives.
Below is a description of the types of drugs covered on the standard and specialty drug lists.
- Generic Drugs: Generics have equivalent ingredients to brand name drugs but can cost significantly less.
- Preferred Brand Name Drugs: Preferred brand name drugs have been patented by the companies that developed them and placed on a preferred drug list by CVS Caremark. They're generally more expensive than generic drugs but less expensive than non-preferred brand name drugs.
- Non-Preferred Brand Name Drugs: Non-preferred brand name drugs are brand name medications that are not on CVS Caremark's preferred drug list and are usually more expensive than generics and preferred brand name drugs. Often, they have either generic alternatives and/or one or more preferred brand name drug options that may be substituted for the non-preferred brand name drug.
Please note: When a generic prescription drug is not available, there are often many different brand-name alternatives. CVS Caremark has reviewed these alternatives and determined which are clinically appropriate and cost-effective. These are called preferred brand-name prescription drugs and are covered at a higher level than non-preferred brand-name drugs. To see a list of preferred drugs, visit CVS Caremark's website, which is accessible via My Health.