$35 Insulin Price Cap

Great news for Medicare enrollees who rely on insulin! The recent Inflation Reduction Act caps the cost of insulin for covered insulins at $35 per month, meaning that millions of Medicare beneficiaries will benefit from contained insulin drug costs in 2023.

From NPR: Eli Lilly announced on Wednesday, March 1, 2023, will cut prices for some older insulins later this year, and immediately expand a cap on costs insured patients pay when they fill prescriptions. The moves promise critical relief to some people with diabetes who can face thousands of dollars a year in bills for insulin they need to live. (AP Photo/Darron Cummings, File)

If you’re unsure whether your insulin is covered, contact your part D prescription drug plan provider for formulary information. They can provide you with a list of covered insulins and other important details about your plan’s coverage.

If you need help paying for your medications, be sure to check out our Resources page for possible options for assistance.

At Medicare Masterclass we’re dedicated to helping you make informed decisions about your healthcare coverage. If you have any questions or concerns about your Medicare coverage, please don’t hesitate to contact us. We’re here to help!

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