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Honored Social Butterfly

INSULIN COST - 2021 Medicare Prescription Drug Plan Prices -

Have you noticed any pleasant surprises in your Insulin out of pocket cost this year?

Just curious to see what people think of it IF their plan has such new coverage.

Thanks for your observations.

From:  Medicare.gov - Insulin coverage

Insulin savings through the Part D Senior Savings Model

Starting January 1, 2021, you may be able to get Medicare drug coverage that offers broad access to many types of insulin for no more than $35 for a 30-day supply. You can get this savings on insulin if you join a Medicare drug plan or Medicare Advantage Plan with drug coverage that participates in the insulin savings model. This model lets you choose among drug plans that offer insulin at a predictable and affordable cost.

Bronze Conversationalist

@GailL1 thanks for sharing.

 

Amplification - Not all plans participate in the insulin savings model, and not all types & brands are included. Participation and pricing (copay's) are determined by the PBM used by the drug plan carrier.

 

 You can get this savings on insulin if you join a Medicare drug plan or Medicare Advantage Plan with drug coverage that participates in the insulin savings model. 

 

In general, the lower premium PDP's don't include insulin savings.

 

Like everything pertaining to Part D, you need to know what you are looking for and how to read the reports.


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Honored Social Butterfly

@somarco 

Yes I understand that not all plans offer the Insulin savings model in their Med D plans - isn't that what Medicare said in my quote:

I just wanted to know if anybody that has one is finding them useful - especially in their cost.

Is it saving them money?  It should - I would think.  Wonder how many people even know about this new model if they need it?

From:  Medicare.gov - Insulin coverage

Insulin savings through the Part D Senior Savings Model

Starting January 1, 2021, you may be able to get Medicare drug coverage that offers broad access to many types of insulin for no more than $35 for a 30-day supply. You can get this savings on insulin if you join a Medicare drug plan or Medicare Advantage Plan with drug coverage that participates in the insulin savings model. This model lets you choose among drug plans that offer insulin at a predictable and affordable cost.

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Bronze Conversationalist

@GailL1 they are helpful only if your type of insulin is covered and you pick the higher priced plan with the insulin pricing.

 

Conflicting reports say the Biden "freeze" has impacted insulin.

 

Unfortunately getting ACCURATE news is virtually impossible.

 

Some reports say the Biden freeze is only temporary so don't worry. Of course there is no guarantee if the freeze will be lifted, remain as is, or be replaced by a new Biden initiative.

 

Others say the freeze does not impact the COST of insulin (which is true) but skirts around the issue of the consumer copay.

 

Yes, you did point out the insulin pricing is not on all plans but consumers mostly read headlines and rarely get into the details. Can't tell you how many clients wanted to know if their PDP would have $35 insulin copay's.

 

 

 

 


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