Health Law & Business News

Medicare Drug Plans Can Cap Insulin Costs Under Trump Plan (2)

March 11, 2020, 1:45 PMUpdated: March 11, 2020, 5:29 PM

Seniors won’t have to pay more than $35 per month for insulin if their Medicare prescription drug plans choose to participate in a Trump administration savings model announced Wednesday.

About 3.3 million Medicare beneficiaries use insulin and pay an average of $642 per year. The Centers for Medicare & Medicaid Services’ project is estimated to save the federal government $250 million over the next five years, and save beneficiaries an average of $446 per year, according to an agency statement.

This model “provides an innovative market-driven approach that removes barriers to lower insulin costs. We call on health insurance plans...

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