Posted by Michael Wonder on 11 Mar 2020
CMS launches groundbreaking model to lower out of pocket expenses for insulin
11 March 2020 - The Part D Senior Savings Model allows Medicare Part D prescription drug plans to offer beneficiaries plan choices that provide a broad range of insulins at a $35 copay.
Today, under President Trump’s leadership, the Centers for Medicare & Medicaid Services (CMS) announced the Part D Senior Savings Model, a voluntary model that enables participating Part D enhanced plans to lower Medicare beneficiaries’ out-of-pocket costs for insulin to a maximum $35 copay per thirty-day supply throughout the benefit year.
Beneficiaries who take insulin and enrol in a plan participating in the model should save an average of $446 in annual out-of-pocket costs for insulin, or over 66 percent, relative to their average cost-sharing for insulin today.
