American Diabetes Association® Secures Insulin Price Reductions for Seniors Through New CMS Senior Savings Model
New Program Will Cap Medicare Monthly Co-Pays at $35
Today, the American Diabetes Association (ADA) joined the Centers for Medicare and Medicaid Services (CMS) for a White House event to announce the Part D Senior Savings Model, which will limit the cost of insulin for participating seniors to a maximum of $35 for a 30-day supply.
“Together, we are helping 3.3 million seniors access insulin more affordably through significant caps on out-of-pocket co-pays,” said Tracey D. Brown, CEO of the American Diabetes Association. “The American Diabetes Association – the nation’s leading organization for all people living with diabetes – is committed to continuing the fight to make insulin and other drugs more affordable so that people living with diabetes can thrive, particularly in these historically challenging times."
For years, the ADA has been pressing federal and state policymakers to help lower the cost of insulin and other drugs for people living with diabetes, 7 million of whom are insulin-dependent. The CMS savings program announced today, in an event at the White House where Brown participated alongside leaders from the insurance and pharmaceutical sector, is the first federal measure to drive insulin costs down.
Today, people with diabetes account for one of every three dollars spent on drugs in the United States, and they spend about 2.5 times more on healthcare expenses than other Americans. With the economic impact of the national health pandemic, these costs are becoming even more challenging to bear.
While the Savings Model is an important step, Brown said, there is more that still needs to be done by the nation’s leaders to lower insulin and other drug costs. “This is an important beginning,” said Brown. “During this time of national emergency due to COVID-19, we call on policymakers at the state and federal levels to suspend all cost-sharing for insulin and other drugs. No one who requires medication should be forced to go without during this unprecedented public health and economic crisis.”
Brown noted that working together with government and other leaders is the only way to drive the much needed changes, and said that the ADA will continue to work with leaders on Capitol Hill, in the Administration and in state legislatures to advance reforms that further lower the cost of drugs for those living with diabetes.
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About the American Diabetes Association
Every day more than 4,000 people are newly diagnosed with diabetes in America. More than 122 million Americans have diabetes or prediabetes and are striving to manage their lives while living with the disease. The American Diabetes Association (ADA) is the nation’s leading voluntary health organization fighting to bend the curve on the diabetes epidemic and help people living with diabetes thrive. For nearly 80 years the ADA has been driving discovery and research to treat, manage and prevent diabetes, while working relentlessly for a cure. We help people with diabetes thrive by fighting for their rights and developing programs, advocacy and education designed to improve their quality of life. Diabetes has brought us together. What we do next will make us Connected for Life. To learn more or to get involved, visit us at diabetes.org or call 1-800-DIABETES (1-800-342-2383). Join the fight with us on Facebook (American Diabetes Association), Twitter (@AmDiabetesAssn) and Instagram (@AmDiabetesAssn).
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