CMS is capping out-of-pocket insulin costs for Medicare beneficiaries at $35 per month, the agency said May 26.
More than 1,750 standalone Medicare Part D prescription drug plans will offer the lower insulin copays through the Part D Senior Savings Model for the 2021 plan year.
The $35 per month cap applies to both pen and vial dosage forms for rapid-acting, short-acting, intermediate-acting and long-acting insulin.
More than 3.3 million Medicare beneficiaries use one or more common forms of insulin, and they could see annual savings of about $446 for insulin, CMS said in a news release.