The PBM is not making the program available to government-funded health plans, which often have restrictions on pharmaceutical companies' helping to pay patients' out-of-pocket costs. In most cases, people who use insulin will see lower out-of-pocket costs without any increased cost to the plan.
"We must find workable solutions to support the development of high-quality drugs and insulin innovations while also ensuring that no one living with diabetes is ever forced to put their life at risk by rationing their insulin because they can not afford it", he said at yesterday's meeting.
Miller insisted the company's announcement isn't tied to recent scrutiny by lawmakers on Capitol Hill, who have been holding hearings in the House and Senate on drug prices, and have specifically fixated on insulin prices. There are more than 20 types of insulin sold in the United States, according to the American Diabetes Association.
For the 26 million Americans with diabetes, the price of insulin has become a drug seemingly only for the well-insured as the price tripled over the last decade.
The annual cost of insulin for treating a type 1 diabetes patient in the United States almost doubled to $5,705 in 2016 from $2,864 in 2012, according to a recent study.More news: Assange to be ejected from Ecuadorean embassy - Security - Strategy
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One report found a jump in prices for all types of insulin and insulin products.
But that "air" comes at an increasingly high cost. That amounts to 9.4 percent of the US population. The companies are working with insulin makers to lower copayments to $25.
"We have people with diabetes who take insulin who are having trouble affording their insulin", said Stettin.
Cigna's new pricing scheme is "a step in the right direction", added Cynthia Rice, a senior vice president at the nonprofit, in an email.
In addition, the health insurer's lower cost initiative falls nearly a week before the Senate Finance Committee's April 9 hearing on drug prices, where they have called Cigna/Express Scripts and other similar companies.