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Prescription Medicines:
Insulin Costs in Context
2021
Medical Innovation Has Transformed the
Lives of Patients with Diabetes
More recent advances have driven much of this transformation.
A century ago, patients were treated with insulins from pigs and cattle. Today, patients have access to insulins that
operate at the molecular level which more closely resemble insulin released naturally in the body.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
NOTE: Modern insulin treatment protocol often requires long-acting insulin to provide a base level of coverage all day along with meal-time administration of insulin to modulate spikes in blood glucose.
Maintenance of stable and consistent blood sugar levels is better than ever before, helping to
avoid serious complications and reduce weight gain.
Longer-acting insulins provide coverage for over 24 hours and enable greater flexibility in
dosing and reduced risk of dangerous blood sugar drops.
Rapid-acting insulins—including an inhaled form—enable dosing directly before or even after
meals, rather than in anticipation of meals.
Insulin pens offer greater convenience, including some that reduce injections for high doses or
ease of use in children.
2
Better Diabetes Management Saves Money and
Improves Health Outcomes
Improving Medication Adherence
Among Patients with Diabetes Could:
Save $8.3 billion for the U.S.
health care system each year
Result in 1 million fewer ER visits
and hospitalizations annually
22
million
Americans live with
uncontrolled diabetes.
SOURCES: American Diabetes Association.; Jha, et al. “Greater Adherence to Diabetes Drugs is Linked to Less Hospital Use and Could Save Nearly $5 Billion Annually.” Health Affairs
3
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Average amount
discounts can lower
the list price of insulin
Amount average net
prices for commonly used
classes of insulins have
decreased since 2014
Net prices for commonly
used insulins are less
expensive now than in 2007
After Discounts and Rebates, Prices for Commonly Used
Insulin Classes are Declining
83% 40%-50%
SOURCE: PhRMA analysis of SSR Health, October 2020.
NOTES: Includes long-acting insulin analogs (50% decline in class average annual net price between 2014 and 2020) and rapid-acting insulin analogs/mixed insulins (40% decline in class average annual net price between 2014 and 2020).
These classes align with classifications reported in analysts reports.
4
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
5
5
Negotiating power is increasingly concentrated among
fewer pharmacy benefit managers (PBMs).
Top 3
Market Share:
74%
21%
33%
20%
36% OptumRx (UnitedHealthGroup)
CVS Health (Caremark)
Express Scripts
All Other
Insurers and PBMs Have Significant Leverage to
Negotiate Discounts
Insurers and PBMs
determine:
FORMULARY
if a medicine is covered
TIER PLACEMENT
patient cost sharing
ACCESSIBILITY
utilization management through
prior authorization or fail first
PROVIDER INCENTIVES
preferred treatment guidelines
and pathways
SOURCE: Drug Channels Institute, March 2020.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Despite Large Rebates and Discounts, Increasing Use of
Deductibles and Coinsurance Can Expose Patients to Higher
Out-Of-Pocket Costs
1 in 4 patients taking brand diabetes medicines are exposed to
deductibles or coinsurance, which are typically based off of a
medicine’s undiscounted list price.
More than half of patient out-of-pocket spending on brand diabetes
medicines is attributable to deductibles and coinsurance.
40%
31%
29%
60%
Copay
Deductible
Coinsurance
SOURCE: IQVIA. US Market Access Strategy Consulting analysis. 2020.
6
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
7
7
0.6
0.7
0.8
0.9
1
1.1
1.2
1.3
2015 2016 2017 2018 2019
2015
=
1
Average Annual Out-of-
Pocket Cost Exposure for
Patients Taking Brand
Diabetes Medicines
Insurers and Middlemen Expose Patients with Diabetes to
Increasing Out-of-Pocket Costs Despite Decreasing Net Prices
SOURCES: IQVIA U.S. Market Access Strategy and Consulting, July 2020.; IQVIA, “Diabetes Costs and Affordability in the United States.” June 2020.
Average Net Price of
Diabetes Medicines
Patients taking brand
diabetes medicines are
asked to pay an
increasing amount out of
pocket, even though net
prices have gone down.
NOTES: Out-of-pocket exposure measures the amount health plans required patients to pay; manufacturer cost sharing assistance could help patients pay this required
amount. Diabetes net price data includes both brand and generic medicines.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
8
8
Patients with Coinsurance and Deductibles Pay More on
Average for Diabetes Medicines
Patients who filled prescriptions
for brand diabetes medicines
while in the deductible spent
out of pocket than patients with
no deductible spending.
Patients with coinsurance cost
sharing who filled prescriptions for
brand diabetes medicines spent
out of pocket than patients with
copay cost sharing.
SOURCE: IQVIA. US Market Access Strategy Consulting analysis. 2020.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
A Small Proportion of Patients with Diabetes Face High
Out-of-Pocket Costs
9
$0
34%
$0.01-$29.99
38%
$30-$74.99
18%
$75-$149.99
6%
$150+
4%
Final Out-Of-Pocket Cost Per Insulin Prescription, All Payers, 2019
NOTES: Includes insulins only, all payers
SOURCES: IQVIA, Medicine Spending and Affordability in the United States, August 2020.; IQVIA, Diabetes Costs and Affordability in the United States, June 2020.
90% of patients paid
less than $75 out of pocket
per insulin prescription.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
A Small Share of Insulin Scripts Account for the Majority of Total
Spending – The Opposite of How Insurance Should Work
Total Insulin Prescriptions Total Patient Spending on Insulin
While just 24% of insulin prescriptions cost patients more than $35 out of
pocket, these prescriptions account for 82% of total patient spending on insulin.
Cost Patients
more than $35
(24%)
Cost Patients less
than $35
(76%)
Cost Patients
more than $35
(82%)
Cost Patients
less than $35
(18%)
NOTES: Includes insulins only, all payers
SOURCE: IQVIA, Medicine Spending and Affordability in the United States, August 2020.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Patients with Diabetes in High-Deductible Health Plans Face
High Out-of-Pocket Costs at the Start of Each Year
11
For patients with diabetes whose insulin is subject to the deductible,
it takes nearly half a year, on average, to meet that deductible.
NOTES: For patients with diabetes who had at least 1 insulin claim in the deductible. In 2018, 88% of patients with diabetes in HDHPs met their deductible.
SOURCE: Xcenda, Impact of First Dollar Coverage for Insulin, October 2020.
Spending for Patients with Diabetes in High-deductible Health Plans Who Met Their Deductible, 2018
Insulin Spending
After Deductible
$213
Insulin Spending
in Deductible
$504
Non-Insulin
Spending in
Deductible
$552
Non-Insulin
Spending After
Deductible
$206
71%
occurred in
the deductible
Patients with diabetes who met
their deductible spent an average
of $1,475 out of pocket in 2018—
$717 on insulin and $758 on non-
insulin medicines.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
The current system can lead health plans and PBMs to favor medicines with high list prices and large rebates.
As a result, payers have been slow to include lower-cost insulin authorized generics on formularies.
Express Scripts, one of
the nation’s largest PBMs,
blocks coverage for a
lower-cost authorized
generic insulin.
Payers Have Been Slow to Include
Lower-Cost Insulins on Formularies
Just 1 in 4 Medicare Part D beneficiaries
and 1 in 5 patients with commercial insurance
have access to lower-price authorized generic
insulin through insurance.
SOURCE: HHS, OIG “Fraud and Abuse; Removal of Safe Harbor Protection for Rebates Involving Prescription Pharmaceuticals and Creation of New Safe Harbor Protection for Certain Point-of-Sale Reductions in Price on Prescription Pharmaceuticals and Certain Pharmacy Benefit
Manager Service Fees.” 83 Fed. Reg. 2340 (Feb. 6, 2019).; Fein, A. “A World Without Rebates: Predictions for How the Channel Will Evolve and Why Drug Prices Will Go Down,” March 20, 2019.; Politico, Oct 2019. Access issues, drug shortages dictate pharmacy fills in Q3.
12
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Cost-Sharing Assistance Programs Have Become a Crucial
Lifeline for Many Patients with Diabetes
Many companies have taken additional steps to expand their patient assistance programs to help ensure
patients are able to access to insulins during the COVID-19 pandemic.
22.8%
24.5%
26.6%
29.0% 28.9%
2015 2016 2017 2018 2019
In 2019, more than
1 in 4 patients
taking brand diabetes
medicines used cost-
sharing assistance to help
them pay for their
medicines.
SOURCE: BioSpace, “Insulin Makers Eli Lilly, Novo Nordisk and Sanofi Provide Low-Cost Options for Patients During COVID-19 Outbreak” April 2020. IQVIA, US Market Access Strategy Consulting analysis. 2020.
Share of Patients Taking Brand Diabetes Medicines Using One or More form of Cost-Sharing Assistance
13
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Patient Spending On Brand Diabetes Medicines Would Have
Been Twice As High Without Cost-Sharing Assistance
$347
$780
Final Out-of-Pocket Spending
After Patient Assistance
Cost Sharing Set by Health Plan
$488
Average Savings from
Cost-Sharing Assistance
Patients just beginning
treatment with brand
medicines are nearly
more likely to abandon their
medicines at the pharmacy
counter if they didn’t use cost-
sharing assistance.
Average Cost Sharing Requirement and Final Annual Out-of-Pocket Spending for
Patients Taking Brand Diabetes Medicines Who Used Cost-Sharing Assistance, 2019
NOTES: Includes out-of-pocket spending for condition-specific brand medicines only. Out-of-pocket cost sharing requirement
measures the amount health plans required patients to pay. Difference between cost sharing requirement and final out-of-pocket
spending represents the savings from use of cost sharing assistance.
14
SOURCES: IQVIA, Patient Affordability, Part 2, 2018.; IQVIA U.S. Market Access Strategy and Consulting analysis, July 2020.
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
15
15
For a typical Part D patient with diabetes taking five medicines, including insulin:
Sharing Negotiated Rebates Would
Lower Medicare Part D Patient Costs
Out-of-pocket
spending could
decrease nearly
$900 a year
NOTE: Plan cost includes medical and pharmacy claims
SOURCES: Avalere Analysis, 2019; OACT, Milliman and Wakely Analysis, February 2019.
Premiums could
increase $3 to $6
a month, as little
as a dime a day
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Sharing Negotiated Rebates Could Lower Out-of-Pocket
Costs for Commercially Insured Patients
Example: High-Deductible Health Plan with a Copay Example: High-Deductible Health Plan with Coinsurance
She would save $359 a year
Her premium would increase
less than 1%
Mary has diabetes and spends
$1,000 each year on medical
and pharmacy expenses
SOURCE: Milliman Analysis, October 2017.
He would save about $800 a year
His premium would increase
less than 1%
Kevin has diabetes and several
other health conditions and spends
$5,000 each year on medical and
pharmacy expenses
16
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
First Dollar Coverage for Insulin Could Improve Affordability
for Patients with Diabetes in High-Deductible Health Plans
17
Annual out-of-pocket costs could be: And could save certain patients with diabetes:
Exempting insulin from the deductible could
significantly lower patients’ annual out-of-pocket costs.
If all patients taking
insulin in high-deductible
health plans had first
dollar coverage.
Allowing patients to
more evenly spread
out-of-pocket costs
throughout the year.
2.4x
to 3.7x
Less
SOURCE: Xcenda, Impact of First Dollar Coverage for Insulin, October 2020.
$1,500
in annual
out-of-pocket
costs
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
Policy Solutions to Address Insulin Affordability Challenges
ENSURE PATIENTS WITH STATE-REGULATED INSURANCE ALSO DIRECTLY BENEFIT FROM REBATES
OR FROM CAPS ON CERTAIN OUT-OF-POCKET COSTS
Support legislation at the state level that could help reduce patients’ out-of-pocket costs by requiring insurers to share discounts
and rebates with patients at the pharmacy counter or cap certain out-of-pocket costs.
SUPPORT REBATE PASS THROUGH AND PROVIDING FIRST DOLLAR COVERAGE
Insurers and PBMs should pass through negotiated rebates and discounts and provide first dollar coverage of preventive
services, like insulin, in high deductible health plans to help lower out-of-pocket costs for insulin and allow patients to spread
costs throughout the year.
MODERNIZE PART D COVERAGE
Establish an annual cap on out-of-pocket costs and allow patients to spread costs throughout the year.
SUPPORT FLAT COPAYS FOR INSULIN FOR PATIENTS IN THE COMMERCIAL MARKET OR IN THE
EXCHANGES
Make regulatory changes to ensure plans put at least one of each type of insulin on a copay-only tier.
COUNT COST-SHARING ASSISTANCE AND THIRD-PARTY DISCOUNT PLANS
Support policies that require health plans to count the cost of prescriptions purchased with cost-sharing assistance or through
third-party programs, like Blink Health and GoodRx, towards deductibles and out-of-pocket limits.
ADDRESS INCENTIVES THAT HARM PATIENTS, BENEFIT MIDDLEMEN
Advance reforms that prevent PBMs and other supply chain entities from having their compensation calculated as a percent of the
price of a medicine and instead support policies that require compensation as on a flat fee based on the value their services provide.
18
Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin

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Prescription Medicines: Insulin Costs in Context January 2021

  • 2. Medical Innovation Has Transformed the Lives of Patients with Diabetes More recent advances have driven much of this transformation. A century ago, patients were treated with insulins from pigs and cattle. Today, patients have access to insulins that operate at the molecular level which more closely resemble insulin released naturally in the body. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin NOTE: Modern insulin treatment protocol often requires long-acting insulin to provide a base level of coverage all day along with meal-time administration of insulin to modulate spikes in blood glucose. Maintenance of stable and consistent blood sugar levels is better than ever before, helping to avoid serious complications and reduce weight gain. Longer-acting insulins provide coverage for over 24 hours and enable greater flexibility in dosing and reduced risk of dangerous blood sugar drops. Rapid-acting insulins—including an inhaled form—enable dosing directly before or even after meals, rather than in anticipation of meals. Insulin pens offer greater convenience, including some that reduce injections for high doses or ease of use in children. 2
  • 3. Better Diabetes Management Saves Money and Improves Health Outcomes Improving Medication Adherence Among Patients with Diabetes Could: Save $8.3 billion for the U.S. health care system each year Result in 1 million fewer ER visits and hospitalizations annually 22 million Americans live with uncontrolled diabetes. SOURCES: American Diabetes Association.; Jha, et al. “Greater Adherence to Diabetes Drugs is Linked to Less Hospital Use and Could Save Nearly $5 Billion Annually.” Health Affairs 3 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 4. Average amount discounts can lower the list price of insulin Amount average net prices for commonly used classes of insulins have decreased since 2014 Net prices for commonly used insulins are less expensive now than in 2007 After Discounts and Rebates, Prices for Commonly Used Insulin Classes are Declining 83% 40%-50% SOURCE: PhRMA analysis of SSR Health, October 2020. NOTES: Includes long-acting insulin analogs (50% decline in class average annual net price between 2014 and 2020) and rapid-acting insulin analogs/mixed insulins (40% decline in class average annual net price between 2014 and 2020). These classes align with classifications reported in analysts reports. 4 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 5. 5 5 Negotiating power is increasingly concentrated among fewer pharmacy benefit managers (PBMs). Top 3 Market Share: 74% 21% 33% 20% 36% OptumRx (UnitedHealthGroup) CVS Health (Caremark) Express Scripts All Other Insurers and PBMs Have Significant Leverage to Negotiate Discounts Insurers and PBMs determine: FORMULARY if a medicine is covered TIER PLACEMENT patient cost sharing ACCESSIBILITY utilization management through prior authorization or fail first PROVIDER INCENTIVES preferred treatment guidelines and pathways SOURCE: Drug Channels Institute, March 2020. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 6. Despite Large Rebates and Discounts, Increasing Use of Deductibles and Coinsurance Can Expose Patients to Higher Out-Of-Pocket Costs 1 in 4 patients taking brand diabetes medicines are exposed to deductibles or coinsurance, which are typically based off of a medicine’s undiscounted list price. More than half of patient out-of-pocket spending on brand diabetes medicines is attributable to deductibles and coinsurance. 40% 31% 29% 60% Copay Deductible Coinsurance SOURCE: IQVIA. US Market Access Strategy Consulting analysis. 2020. 6 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 7. 7 7 0.6 0.7 0.8 0.9 1 1.1 1.2 1.3 2015 2016 2017 2018 2019 2015 = 1 Average Annual Out-of- Pocket Cost Exposure for Patients Taking Brand Diabetes Medicines Insurers and Middlemen Expose Patients with Diabetes to Increasing Out-of-Pocket Costs Despite Decreasing Net Prices SOURCES: IQVIA U.S. Market Access Strategy and Consulting, July 2020.; IQVIA, “Diabetes Costs and Affordability in the United States.” June 2020. Average Net Price of Diabetes Medicines Patients taking brand diabetes medicines are asked to pay an increasing amount out of pocket, even though net prices have gone down. NOTES: Out-of-pocket exposure measures the amount health plans required patients to pay; manufacturer cost sharing assistance could help patients pay this required amount. Diabetes net price data includes both brand and generic medicines. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 8. 8 8 Patients with Coinsurance and Deductibles Pay More on Average for Diabetes Medicines Patients who filled prescriptions for brand diabetes medicines while in the deductible spent out of pocket than patients with no deductible spending. Patients with coinsurance cost sharing who filled prescriptions for brand diabetes medicines spent out of pocket than patients with copay cost sharing. SOURCE: IQVIA. US Market Access Strategy Consulting analysis. 2020. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 9. A Small Proportion of Patients with Diabetes Face High Out-of-Pocket Costs 9 $0 34% $0.01-$29.99 38% $30-$74.99 18% $75-$149.99 6% $150+ 4% Final Out-Of-Pocket Cost Per Insulin Prescription, All Payers, 2019 NOTES: Includes insulins only, all payers SOURCES: IQVIA, Medicine Spending and Affordability in the United States, August 2020.; IQVIA, Diabetes Costs and Affordability in the United States, June 2020. 90% of patients paid less than $75 out of pocket per insulin prescription. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 10. A Small Share of Insulin Scripts Account for the Majority of Total Spending – The Opposite of How Insurance Should Work Total Insulin Prescriptions Total Patient Spending on Insulin While just 24% of insulin prescriptions cost patients more than $35 out of pocket, these prescriptions account for 82% of total patient spending on insulin. Cost Patients more than $35 (24%) Cost Patients less than $35 (76%) Cost Patients more than $35 (82%) Cost Patients less than $35 (18%) NOTES: Includes insulins only, all payers SOURCE: IQVIA, Medicine Spending and Affordability in the United States, August 2020. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 11. Patients with Diabetes in High-Deductible Health Plans Face High Out-of-Pocket Costs at the Start of Each Year 11 For patients with diabetes whose insulin is subject to the deductible, it takes nearly half a year, on average, to meet that deductible. NOTES: For patients with diabetes who had at least 1 insulin claim in the deductible. In 2018, 88% of patients with diabetes in HDHPs met their deductible. SOURCE: Xcenda, Impact of First Dollar Coverage for Insulin, October 2020. Spending for Patients with Diabetes in High-deductible Health Plans Who Met Their Deductible, 2018 Insulin Spending After Deductible $213 Insulin Spending in Deductible $504 Non-Insulin Spending in Deductible $552 Non-Insulin Spending After Deductible $206 71% occurred in the deductible Patients with diabetes who met their deductible spent an average of $1,475 out of pocket in 2018— $717 on insulin and $758 on non- insulin medicines. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 12. The current system can lead health plans and PBMs to favor medicines with high list prices and large rebates. As a result, payers have been slow to include lower-cost insulin authorized generics on formularies. Express Scripts, one of the nation’s largest PBMs, blocks coverage for a lower-cost authorized generic insulin. Payers Have Been Slow to Include Lower-Cost Insulins on Formularies Just 1 in 4 Medicare Part D beneficiaries and 1 in 5 patients with commercial insurance have access to lower-price authorized generic insulin through insurance. SOURCE: HHS, OIG “Fraud and Abuse; Removal of Safe Harbor Protection for Rebates Involving Prescription Pharmaceuticals and Creation of New Safe Harbor Protection for Certain Point-of-Sale Reductions in Price on Prescription Pharmaceuticals and Certain Pharmacy Benefit Manager Service Fees.” 83 Fed. Reg. 2340 (Feb. 6, 2019).; Fein, A. “A World Without Rebates: Predictions for How the Channel Will Evolve and Why Drug Prices Will Go Down,” March 20, 2019.; Politico, Oct 2019. Access issues, drug shortages dictate pharmacy fills in Q3. 12 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 13. Cost-Sharing Assistance Programs Have Become a Crucial Lifeline for Many Patients with Diabetes Many companies have taken additional steps to expand their patient assistance programs to help ensure patients are able to access to insulins during the COVID-19 pandemic. 22.8% 24.5% 26.6% 29.0% 28.9% 2015 2016 2017 2018 2019 In 2019, more than 1 in 4 patients taking brand diabetes medicines used cost- sharing assistance to help them pay for their medicines. SOURCE: BioSpace, “Insulin Makers Eli Lilly, Novo Nordisk and Sanofi Provide Low-Cost Options for Patients During COVID-19 Outbreak” April 2020. IQVIA, US Market Access Strategy Consulting analysis. 2020. Share of Patients Taking Brand Diabetes Medicines Using One or More form of Cost-Sharing Assistance 13 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 14. Patient Spending On Brand Diabetes Medicines Would Have Been Twice As High Without Cost-Sharing Assistance $347 $780 Final Out-of-Pocket Spending After Patient Assistance Cost Sharing Set by Health Plan $488 Average Savings from Cost-Sharing Assistance Patients just beginning treatment with brand medicines are nearly more likely to abandon their medicines at the pharmacy counter if they didn’t use cost- sharing assistance. Average Cost Sharing Requirement and Final Annual Out-of-Pocket Spending for Patients Taking Brand Diabetes Medicines Who Used Cost-Sharing Assistance, 2019 NOTES: Includes out-of-pocket spending for condition-specific brand medicines only. Out-of-pocket cost sharing requirement measures the amount health plans required patients to pay. Difference between cost sharing requirement and final out-of-pocket spending represents the savings from use of cost sharing assistance. 14 SOURCES: IQVIA, Patient Affordability, Part 2, 2018.; IQVIA U.S. Market Access Strategy and Consulting analysis, July 2020. Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 15. 15 15 For a typical Part D patient with diabetes taking five medicines, including insulin: Sharing Negotiated Rebates Would Lower Medicare Part D Patient Costs Out-of-pocket spending could decrease nearly $900 a year NOTE: Plan cost includes medical and pharmacy claims SOURCES: Avalere Analysis, 2019; OACT, Milliman and Wakely Analysis, February 2019. Premiums could increase $3 to $6 a month, as little as a dime a day Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 16. Sharing Negotiated Rebates Could Lower Out-of-Pocket Costs for Commercially Insured Patients Example: High-Deductible Health Plan with a Copay Example: High-Deductible Health Plan with Coinsurance She would save $359 a year Her premium would increase less than 1% Mary has diabetes and spends $1,000 each year on medical and pharmacy expenses SOURCE: Milliman Analysis, October 2017. He would save about $800 a year His premium would increase less than 1% Kevin has diabetes and several other health conditions and spends $5,000 each year on medical and pharmacy expenses 16 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 17. First Dollar Coverage for Insulin Could Improve Affordability for Patients with Diabetes in High-Deductible Health Plans 17 Annual out-of-pocket costs could be: And could save certain patients with diabetes: Exempting insulin from the deductible could significantly lower patients’ annual out-of-pocket costs. If all patients taking insulin in high-deductible health plans had first dollar coverage. Allowing patients to more evenly spread out-of-pocket costs throughout the year. 2.4x to 3.7x Less SOURCE: Xcenda, Impact of First Dollar Coverage for Insulin, October 2020. $1,500 in annual out-of-pocket costs Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin
  • 18. Policy Solutions to Address Insulin Affordability Challenges ENSURE PATIENTS WITH STATE-REGULATED INSURANCE ALSO DIRECTLY BENEFIT FROM REBATES OR FROM CAPS ON CERTAIN OUT-OF-POCKET COSTS Support legislation at the state level that could help reduce patients’ out-of-pocket costs by requiring insurers to share discounts and rebates with patients at the pharmacy counter or cap certain out-of-pocket costs. SUPPORT REBATE PASS THROUGH AND PROVIDING FIRST DOLLAR COVERAGE Insurers and PBMs should pass through negotiated rebates and discounts and provide first dollar coverage of preventive services, like insulin, in high deductible health plans to help lower out-of-pocket costs for insulin and allow patients to spread costs throughout the year. MODERNIZE PART D COVERAGE Establish an annual cap on out-of-pocket costs and allow patients to spread costs throughout the year. SUPPORT FLAT COPAYS FOR INSULIN FOR PATIENTS IN THE COMMERCIAL MARKET OR IN THE EXCHANGES Make regulatory changes to ensure plans put at least one of each type of insulin on a copay-only tier. COUNT COST-SHARING ASSISTANCE AND THIRD-PARTY DISCOUNT PLANS Support policies that require health plans to count the cost of prescriptions purchased with cost-sharing assistance or through third-party programs, like Blink Health and GoodRx, towards deductibles and out-of-pocket limits. ADDRESS INCENTIVES THAT HARM PATIENTS, BENEFIT MIDDLEMEN Advance reforms that prevent PBMs and other supply chain entities from having their compensation calculated as a percent of the price of a medicine and instead support policies that require compensation as on a flat fee based on the value their services provide. 18 Prescription Medicines: Insulin Costs in Context www.phrma.org/insulin

Editor's Notes

  1. Data in table 10