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By Staff Reporters
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Limiting the $35 cap on the price of insulin only to Medicare members is not that consequential, experts said. While the cost of insulin has skyrocketed over the years, many people with private insurance already pay no more than that amount. About a fifth of those who take insulin and have health coverage through large employers pay more than $35 a month for the medication, according to an analysis from the Kaiser Family Foundation. More than a quarter of people with Affordable Care Act policies and nearly one-third of those insured through a small employer pay more than that threshold.
Some private insurers and states are taking action to help Americans afford the drug. UnitedHealthcare will eliminate out-of-pocket costs for insulin for certain policyholders starting next year, while 20 states have placed caps on co-payments. Also, two drug makers are working on inexpensive versions of the insulin medication, while some other manufacturers are offering deep discounts for certain patients. “Bottom line is I don’t think stripping it out will have a major impact on the private sector,” Gerard Anderson, a professor of health policy and management at Johns Hopkins University, said of the insulin cap.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Drugs and Pharma, Ethics, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance | Tagged: insulin, insulin cap, Insulin Price Cap |
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UPDATE
https://www.msn.com/en-us/money/companies/eli-lilly-to-cut-insulin-prices-cap-costs-at-35-for-many-people-with-diabetes/ar-AA185F9B?ocid=U521DHP&pc=U521&cvid=6adb9e0537c2409a9cff8dde7aa236e1&ei=24
Ron
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