(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott today issued the following statement applauding the Administration’s initiative, announced today, to reduce insulin costs for Medicare enrollees:
“We commend the Administration for allowing Part D plan sponsors to offer a new, voluntary Medicare Part D plan, starting in 2021, under which a beneficiary’s cost sharing for insulin would be limited to no more than $35 a month.
PBMs understand that for too many consumers, including Medicare beneficiaries, insulin costs are increasingly unaffordable.
On insulin products specifically, PBMs are innovating new programs to respond to high and rising prices. For example, a PBM and health plan recently introduced an initiative to lower monthly out-of-pocket costs on insulin by 40 percent or more. Under the program, out-of-pocket costs are $25 for a 30-month supply of insulin for eligible health plan enrollees. In addition, another PBM announced it could provide access to diabetes drugs, including insulin, at no out-of-pocket costs to health care enrollees at a savings to plan sponsors.
We look forward to working with the Administration to help every patient affordably access needed prescription drugs, including insulins.”