June 5, 2020
Policy Efforts to Lower Insulin Prices
Last week, CMS announced that 1,750 standalone Medicare Part D prescription drug programs have enrolled in the Part D Senior Savings Model. The model is designed to help control prescription costs for seniors, capping copayments for a broad set of insulins at $35. This has been the next step in a series of ongoing policy efforts to lower drug costs—particularly the cost of insulin, which has tripled in the last decade. In 2016, individuals with Type 1 diabetes spent, on average, $5,705 on insulin, an increase of $2,841 per person since 2012. Pressure from patients to lower costs for critical medications has spurred states and private payers to cap out-of-pocket costs and provide more cost transparency. To learn more about efforts from the current Administration, government and private companies to make insulin more affordable for patients.
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