How Much Is Diabetes Medicine Expensive?
How much is diabetes medicine? In this article, we’ll look at how much Insulin and other diabetes drugs have increased since 2014 and what co-pay assistance programs are available to help you pay for your medications. In addition, we’ll explore the cost of follow-on brand insulins. And finally, we’ll talk about the cost of thiazolidinediones. While the costs of these medicines may be higher than those of their generic counterparts, they’re still a fraction of the cost of insulin.
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Insulin prices have increased by more than 50% since 2014
The average list price of insulin in the United States has increased by more than 50% in the past decade. Between 2012 and 2016, the average U.S. wholesale-acquisition price increased by 15% to 17%. In 2016, the average price of insulin for adults with employer-sponsored health insurance doubled, despite a 50% rebate. Despite the decline in the average list price, millions of Americans are still struggling to pay for household expenses.
Non-insulin diabetes medications have increased by 76%
Since the mid-90s, non-insulin diabetes medications have risen by seventy-six percent, far more than insulin products. This increase is due in part to changes in drug list prices, as well as insurance coverage rules. This study is one of many looking at the effect of medication cost increases on the overall cost of diabetes care. But the results are not all rosy. There have been some good results.
Co-pay assistance programs for uninsured patients
If you’re not covered by insurance but still need to buy diabetes medicine, co-pay assistance programs for uninsured people with diabetes medicine may be a good option. Some of these programs are bundled into Medicare Part D coverage and will cover the cost of most diabetes medications, including insulin, disposable pen needles, and Novo Nordisk’s GlucaGer Hypokit. Generally, however, you have to earn at least 250 percent of the federal poverty level to be eligible.
Cost of follow-on brand insulins
There are several factors that can affect the price of follow-on brand insulins for diabetics. Among these factors is whether biosimilar insulins are approved and available. If so, the price of insulins could drop significantly. The cost of a follow-on brand insulin is typically higher than the cost of a generic or a brand-name drug. In addition, biosimilars can be more expensive than generics.
Cost of GLP-1 receptor agonists
The cost of GLP-1 receptor agonists (GLP-1 RAs) for diabetes is an important consideration, especially when considering long-term effects. This study provides a framework to assess long-term costs associated with GLP-1 RAs and identifies a reasonable reduction in cost for the newest GLP-1 RAs. The study also provides cost-effectiveness estimates for other GLP-1 RAs, including dulaglutide and sc. SEMA.