Under Pressure, Administration Looks To Cap Insulin Prices For Medicare That Could Save Diabetics Hundreds Of Dollars

The New York Times: Insulin Costs May Be Capped In A Medicare Program
A new Medicare pilot program would lower the cost of insulin to $35 a prescription for older Americans who need the lifesaving drugs, the Trump administration announced Wednesday. If insulin manufacturers and insurers agree to offer the plans — which are voluntary — then people 65 and older who need insulin could save an average of $446 a year beginning in January 2021, according to Medicare officials. (Thomas, 3/11)

Reuters: U.S. Government Aims At High Insulin Prices With Plan For $35 Copay In Medicare
The Center for Medicare and Medicaid Services, part of the U.S. Department of Health and Human Services, is lining up drug makers and the private insurers who manage Medicare drug benefits to volunteer to test out the new pricing in 2021. Medicare drug plans cover about 46 million people aged 65 and older and with disabilities. Insulin is made largely by three companies: Eli Lilly and Co, Novo Nordisk A/S and Sanofi SA. Both they and health insurers have begun offering discounted insulin. Eli Lilly and Sanofi said in statements that they planned to take part in the program. Novo Nordisk said in a statement that it was looking at the details of the program. (3/11)

Stat: Trump Administration Looks To Cap Insulin Costs With A Medicare Program
The Trump administration announced a new voluntary program that would lower the out-of-pocket cost Medicare beneficiaries pay for insulin to $35 a month, a move designed to deflate rising anger over prices for medicines and, consequently, give President Trump a lift during an election year. Assuming drug makers and insurers participate, people with diabetes who enroll in a participating Medicare Part D plan are forecast to save an average of $446 annually, or more than 66% of what they pay today, according to the Centers for Medicare and  Medicaid Services. CMS believes that more than 3.3 million Medicare beneficiaries receive one or more of the common forms of insulin. (Silverman, 3/11)

Modern Healthcare: New Model Would Cap Medicare Part D Insulin Costs For Seniors
The CMS’ Center for Medicare & Medicaid Innovation on Tuesday announced that it would test a new model to reduce Medicare enrollees’ out-of-pocket costs for insulin. The Part D Senior Savings Model will cap beneficiaries’ copays at $35 for a 30-day supply of insulin for the entire benefit year. Participating insurers will offer seniors prescription drug plans with supplemental insulin coverage. The pilot begins on January 1, 2021. Plans have until May 1 to apply. (Brady, 3/11)