A significant number of drug approvals have occurred in the past few years. The availability of new drugs at increasing prices have increased pharmacy PMPM cost risk. There are two useful tools that can help stakeholders plan for and manage this increased risk: the Academy of Managed Care (AMCP) Format for Formulary Submissions (known as the AMCP Dossier) and value frameworks. The intent of this session is to improve actuaries' understanding of valuable information contained in the AMCP Dossier and introduce relevant value frameworks and illustrate how they can help to inform actuaries and payer coverage decisions through value assessment. There will be focus on what the value frameworks can help with today, and what questions still remain about the utility of the frameworks in the formulary decision making and health plan budgeting process. At the conclusion of this session, attendees will be able to: • Describe the purpose of the AMCP Dossier and the types of information included • Select relevant AMCP Dossier information for actuarial modeling • Describe the benefit of value frameworks to a health plan’s clinical and actuarial teams • Be familiar with how value frameworks like ICER could be used to augment the current formulary process. • Describe the challenges of using value frameworks for a health plan’s clinical and actuarial teams