GreenShield Canada’s (GSC) Tiered Formulary

Tiered formularies are starting to attract attention in the Canadian marketplace. Commonly available in the U.S., and in keeping with our North American benefits approach, tiered formularies group drugs into several categories and assign corresponding reimbursement levels (co-pay or co-insurance) resulting in improved drug plan management.

What is a tiered formulary?

Let’s start by defining a formulary. Simply put, it is a list of drugs that are covered as benefits, in this case, under your GSC drug plan. The plan formulary groups drugs into three tiers, or categories, and assigns a different covered percentage to each tier. This means that you could pay less in out-of-pocket expenses depending on the drug you choose with your doctor. If you choose a drug from tier 1 instead of tier 2, both you and Sherwin-Williams save money.

How it works…

Your plan has been designed to give you maximum flexibility and choice. Most therapeutic drug classes (the group of drugs that treat the same medical condition) have different drugs in different tiers, For example, you will not find all anti-depressants put together in the same tier — each individual anti-depressant is placed into a tier according to cost and efficacy.

See your Plan Overview for details

Need assistance? Contact one of our Benefits Centre Administrators to assist you with your needs

Sherwin-Williams Canada Benefit Service Center
30 Kelfield Street
Toronto, ON M9W 5A2
Phone: 1-844-994-9989
Email: sherwin@benefitscentre.ca