What is referred to as the list of drugs covered within the Part D benefit plan?

The term that accurately refers to the list of drugs covered under the Part D benefit plan is known as the formulary. A formulary is a specific list established by a health insurance provider, which outlines the medications that are covered under a particular plan. This list is crucial for plan members as it helps them understand which medications they can access at a reduced cost and which ones may have additional requirements, such as prior authorization.

The formulary is often categorized into tiers, with each tier indicating a different level of cost-sharing for the patient. This structured approach not only helps in managing healthcare costs, but also guides physicians in selecting appropriate medications for their patients while ensuring that the patients have access to medically necessary drugs.

Understanding the formulary is essential for both patients and healthcare providers, as it can significantly impact treatment choices and financial decisions regarding the patient's healthcare.