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More than 50% of insulin users with employer-based insurance spent over $35 out-of-pocket on average for a 30-day supply of insulin in 2019 and 2020, according to the Health Care Cost Institute, a ...
Within the year of 2014, the cost of prescriptions had increased by at least 11.4% and 58% within the last eight years. The average cost for a month supply of brand-name drugs can run up to a couple of hundred US dollars, whereas in Canada and Great Britain the same medication could cost up to $40 US dollars.
But the gross price of insulin is more than 900% higher on average in the U.S., compared with the cost in 33 developed economies around the world, according to a February RAND report.
Novo said last year it would pull its Levemir insulin from the U.S. market at the end of 2024, months after cutting its price by 65% to $108 a vial and $162 for a 5-pack of injector pens.
The annual cost of insulin for people with type 1 diabetes in the US almost doubled from $2,900 to $5,700 over the period from 2012 to 2016. [ 269 ] Renewed attention was brought to Eli Lilly's pricing of insulin in November 2022, after a verified Twitter account impersonating Eli Lilly posted on Twitter that insulin would now be free.
This is how much the cost of insulin has increased over the years.
The Affordable Insulin Now Act is a bill in the United States Congress intended to cap out-of-pocket insulin prices under private health insurance and Medicare at no more than $35 per month. [ 1 ] The bill was first introduced on February 25, 2022, by Representative Angie Craig ( D - MN ). [ 2 ]
Despite existing for over 100 years, 'evergreening,' supply chain issues, and more are keeping insulin costs high. Insulin is an essential drug to treat diabetes. Despite existing for over 100 ...