CVS Caremark, the pharmacy benefit unit of CVS Health, launched a program that will eliminate out-of-pocket costs for diabetes drugs and insulin for its members.
The program, called RxZero, allows employers and health plan sponsors using CVS Caremark to use formulary design approaches to offer all diabetes drugs to their beneficiaries with no out-of-pocket payments.
CVS Caremark said the program will not raise costs for employers or health plans sponsors, nor will it increase premiums or deductibles for patients.
With the program, the company is aiming to ensure better medication adherence to improve diabetes management.
A CVS Caremark analysis found that its members spent an average $467.24 out of pocket on branded diabetes medications per year, and that nearly 12 percent spent more than $1,000 annually.
"Traditionally, the focus of affordability for diabetes medications has been on insulin, which is the cornerstone of therapy for the 5 percent of people with diabetes who are living with Type 1 diabetes. However, the new CVS Caremark solution expands affordable options to include the entire range of diabetes medications, improving affordability for the 95 percent of people with diabetes who are living with Type 2 diabetes."