Home News Trump Negotiates Cost of Insulin for Medicare Enrollees Down to $35 a Month, Rips Biden For Not Doing It

Trump Negotiates Cost of Insulin for Medicare Enrollees Down to $35 a Month, Rips Biden For Not Doing It

by J.C McCallum

“We have reached a breakthrough agreement to dramatically slash the out-of-pocket costs of insulin,” Trump said from the Rose Garden during the late afternoon event. “You know what’s happened to insulin over the years, right? Through the roof.”

“Sleepy Joe can’t do this. That I can tell you,” he added of Joe Biden who didn’t do anything to lower drug prices in 8 years in the Obama administration.

From The New York Post: The deal struck with the nation’s insulin manufacturers and health care providers will limit the co-pay for a month’s supply of insulin to $35 — a 66 percent reduction to current costs, White House counselor Kellyanne Conway said.

The initiative will apply to the 1 in 3 Medicare enrollees who have diabetes, which is approximately 3 million people.

The announcement comes on the heels of hearings into the rising cost of insulin in the United States, with one diabetic groom-to-be dying in 2019 after switching to a cheaper version to help pay for his wedding.

“Having more predictable out of pocket costs will help seniors adhere to their doctor’s orders,” Conway told reporters on a briefing call.

The initiative will be unveiled during an event in the White House Rose Garden with Trump and the nation’s health care executives.

The plan, effective from January 2021, will save seniors approximately 56 percent or an average of $446 each year in insulin co-pays, said Seema Verma, administrator of the Centers for Medicare and Medicaid Services.

From ABC:

Medicare recipients will be able to get prescription plans that limit copays for insulin, a potential savings of hundreds of dollars, the White House announced Tuesday in a pivot to pocketbook issues that could influence November’s election.

The new benefit — to be formally unveiled at a Rose Garden event Tuesday afternoon — is being touted as a major accomplishment by Trump administration officials eager to change the subject from the grim drumbeat of coronavirus pandemic news.

Older adults who pick a drug plan offering the new insulin benefit would pay a maximum of $35 a month starting next year, a savings estimated at $446 annually. Fluctuating cost-sharing amounts that are common now would be replaced by a manageable amount.

The new insulin benefit will be voluntary, so during open enrollment this fall Medicare recipients who are interested must make sure to pick an insurance plan that provides it. Most people with Medicare will have access to them.

Stable copays for insulin are the result of a deal shepherded by the administration between insulin manufacturers and major insurers, Medicare chief Seema Verma told The Associated Press. The three major suppliers, Eli Lilly, Novo Nordisk and Sanofi, were all involved.

“It was a delicate negotiation,” said Verma. Drugmakers and insurers have been at odds in recent years, blaming one another for high prices. “I do think this is a big step.”

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