Lexeme: prescription benefit  
Very Rare (0.01)
Definition:
  1. noun. A prescription benefit refers to the coverage provided by a health insurance plan or program for the cost of prescription medications. It typically involves a formulary, which is a list of covered drugs, and may include a copayment or coinsurance that the insured individual must pay for each prescription filled. The benefits may vary depending on the insurance plan and can range from covering generic drugs to brand-name medications. The purpose of a prescription benefit is to assist individuals in receiving necessary medications at an affordable cost. GPT3.5
Word Forms:
  • noun. prescription benefit (singular), prescription benefits (plural)
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