Wednesday, 22 May 2019

Cigna announces plan that caps monthly insulin prices at $25 – WHSV

HARRISONBURG, Va. (WHSV) — As insulin prices continue to soar, one insurance company announced its plan to cap month insulin costs at $25.

In a press release, Cigna said the cap would reduce out of pocket costs for diabetic patients by nearly 40 percent.

David Cockley, who has been a type 1 diabetic for his entire adult life, said the news is a promising step in the right direction.

“It should make a huge difference,” said Cockley. “Several hundred dollars a month down to 25. Boy, that’s something.”

Without insurance, the 40 vials of insulin Cockley uses a month, could cost up to $900.

“It really is a life or death kind of medicine for diabetics,” he said.

However, the life saving medication comes at a very high price.

The Journal of the American Medical Association released a study that shows insulin prices nearly tripling from 2003 to 2013 and the prices have continued to rise since then.

Patrick O’Shea, a pharmacist at Bridgewater Pharmacy said he deals with the problem of climbing insulin costs often — especially with the thousands of Virginians without insurance.

“They’re all horribly expensive,” O’Shea said about the price of insulin. “It’s just really ridiculous…people’s lives are being totally impacted by the insulin that they can’t get.”

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