Insulin Prices: How to Handle Exorbitant Expenses

Since 1999, the price of insulin injections has increased more than 1,000 percent—from about $20 to more than $300 per vial. A subsequent study showed that more than a million people spend 40 percent of their income on insulin after rent and daily expenses. About 20 percent of Americans who use insulin injections have potential shorteners who use less of their medication, such as skipping a medication or using less than a prescription. It can lead to serious problems such as leg amputation, heart disease, kidney failure, and vision problems.

This article looks at insulin costs, the factors that affect them, and ways to lower insulin costs for yourself.

Why is insulin needed?
Insulin is produced in the pancreas, an organ without a stomach lining. Type 1 diabetes occurs when one’s pancreas does not produce insulin, while type 2 diabetes occurs when the body does not produce enough insulin or does not make available insulin. A lack of insulin can cause high blood sugar in the body, which, if left untreated, can lead to problems such as heart disease, stroke, kidney failure, nerve damage, amputation of legs, and or blindness.
Prescription insulin is used to manage blood sugar after meals or throughout one’s day, depending on the patient. Skipping a dose of insulin or using less than the recommended daily amount for students can be dangerous. It also increases the risk of stroke, kidney failure, and death, even in young people (who are more likely to skip insulin).

Average prices

The cost of insulin can vary depending on the type of insulin and your personal needs. Insulin is usually measured in units. For example, eating 60 grams of carbohydrates may require six units. One milliliter (mL) of insulin contains 100 units, and insulin vials usually measure 3 mL or 10 mL.

In 2018, the average cost of a vial of insulin ranged from about $70 to $120, with some vials costing as much as $300 to $400 and other insulin costs as high as $1,800.
The United States federal government and 22 state governments have passed legislation to cap insulin prices. For example, the 2022 Inflation Reduction Act capped insulin copays at $35 for Medicare, the health insurance program for people age 65 and older, some people with special privileges and those with chronic kidney disease. is for those State-mandated insulin copays can range from $25 to $100 per month for Medicare. However, many employee-selected plans at many large companies, such as self-insured brothers, are exempt.

In March 2023, drugmakers Eli Lilly, Novo Nordisk, and Sanofi each announced price cuts for their insulin products. These include Humalog (Lilly), Lantus (Sanofi), and Novolog (Novo Nordic), and other insulins from each company.
Whether or not there are state copay limit mandates for insulin can affect how much you could pay for insulin. Some states provide pharmaceutical assistance programs or emergency insulin assistance programs to help residents with costs.20 Insulin is more expensive in the United States than in other countries.9

Insulin Costs in the US vs. Other Countries Country9 Price per Vial

  1. United States $98.70
  2.  Australia $6.94
  3. Canada $12.00
  4. France $9.08
  5.  Germany $11.00
  6. Japan $14.40

32 other countries in the Organisation for Economic Co-operation and Development, a world trade organization $8.81 The price of insulin in the US compared to 32 trade partners, according to RAND corporation data.

Buying generics
Ask your pharmacist about switching to generics to reduce costs. If you’re paying cash without insurance, insulin brands usually offer “dispensed generics” made by their own affiliates. Some licensed generics may not be covered by insurance, but they may be cheaper.

Some of the licensed generics are as follows:
1- Lispro, generic version of Humalog, from Lilly’s product line
1- Insulin Aspart and Insulin Aspart Mix, the generic versions of Novolog and Novolog Mix, are products of Novo Nordisk.
1- Help and discounts

Here are some ways to get help for low-cost or no-cost drugs:

1- Insulin manufacturer hotlines and patient assistance programs
2- A tool to find Medicare.com support programs for pharmaceutical companies
3- Federally funded local clinics
4- State Drug Rescue Program
5- Needed meds
6- Rx Hope
7- Inside RX
8- Medicine Assistance Tool
9- Rx Assist
10- Walmart and CVS
11- Ask your pharmacist about discount cards from pharmacies and manufacturers

Diversified only spending accounts
If you have health insurance through a job, a Diversified Only Spending Account (FSA) is a tax-free health spending account to which both you and your employer can contribute, up to a limit of $3,050 per year. up to. The FSA can reimburse you for the cost of the insulin you paid. Ask your insurer how to collect reimbursement for insulin costs not covered by insurance.

Abstract
There are ways to save on insulin costs, even without insurance. These include purchasing generics, manufacturer discount hotlines that can provide emergency lower prices, local federally funded clinics, foreign for-profit organizations such as Need Meds and GoodRx, and state prescription assistance programs.

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