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Biological Drugs

Biological, or Biologic, drugs are those made by or from living organisms (i.e. gene therapy, vaccines, antibodies, stem cells); such drugs, and their generic forms, known as biosimilars or follow-on biologics, are regulated by the FDA.

Actuarial Equivalent

A health benefit plan offering similar coverage to the standard benefit plan. The similar plan does not necessarily include the same premiums, cost sharing requirements…