You’ve likely seen news stories announcing new drug approvals and wondered: Will this drug benefit me? How can I get it?
The US FDA Drug Approval and CenterWatch websites track all newly approved drugs. They also provide information about the research studies that led to the drug’s approval. Once a drug is approved, your insurer will need to decide whether to include it in its formulary–the list of drugs it makes available to patients. If it’s not in its formulary, it will not be included in your drug co-pay or co-insurance benefits. There are some drugs that may be in the formulary but require your doctor to obtain prior authorization before your prescription can be filled.
If you read about a new trial, talk to your doctor to find out if the drug might be an option for you. That way, once it is approved, you can find out if it’s covered by your formulary or if it requires prior authorization. Also, keep in mind that some cancer drugs that are approved quickly may not show the same results in real-world settings.
- FDAÂ US FDA Drug Approvals
- CenterWatch: FDA Approved Drugs
- National Public Radio: Your Drug Formulary: How It Works and What to Know
- JDRF.org: How to Obtain Prior Authorization
- National Public Radio: Cancer Drugs Approved Quickly Often Fail to Measure Up Later
Last Modified on February 16, 2021