Today, heath insurance company Cigna and its pharmacy benefits manager Express Scripts announced a health insurance plan that will cap insulin costs at $25 monthly. The move could affect 70,000 people, reducing the cost of insulin from $40 a month on average (and much higher for some).
To qualify for the plan, which aims to increase access to and affordability of insulin, patients must have monthly out-of-pocket insulin costs of higher than $25 and must participate in a non-government-funded pharmacy plan managed by Express Scripts.
An estimated 7.4 million Americans depend on insulin, and reports indicate that a quarter of insulin-users have rationed the medicine due to costs.
“For people with diabetes, insulin can be as essential as air. We need to ensure these individuals feel secure in their ability to afford every fill so they don’t miss one dose, which can be dangerous for their health,” noted Steve Miller, MD, executive vice president and chief clinical officer of Cigna. “Together, Cigna and Express Scripts are now able to give people who rely on insulin greater affordability and cost predictability so they can focus on what matters most: their well-being.”
Learn more about the Patient Assurance Program SM in the company’s press release.
Want to learn more about insulin costs and saving money on insulin? Read “U.S. Congress Holds Hearing on Insulin Costs,” “Lilly to Introduce Lower-Priced Generic Insulin,” and “Insulin Prices: Four Ways to Pay Less.”
