CMS Announces Lower Costs for Insulin in 2021

Insulin is a necessary expenditure each month for millions of Americans living with diabetes. As with any regular medical cost, however, the amount we pay for insulin adds up throughout the year. The Centers for Medicare & Medicaid Services (CMS) announced that more than 1,750 Medicare Part D and Medicare Advantage plans will be meeting a standardized payment in 2021.

The Announcement

On May 26, 2020, CMS announced that participating drug plans (both Part D plans and Part C plans with drug coverage) would be limiting the out-of-pocket cost for a month’s supply of insulin at a maximum of $35 for the copay. These changes will come into effect for the 2021 Medicare plan year. With around a third of all Medicare beneficiaries living with diabetes, this news will bring emotional and financial relief.

This announcement should allow payments to be more consistent across the different phases of coverage in a Part D plan — from your initial deductible phase through the coverage gap and into catastrophic coverage. Previously, the costs of insulin could differ from month to month depending on which phase of coverage the beneficiary is in.

Recent Posts

Medicareful

About Us

Nov 2, 2021

This Annual Enrollment Period, go with the team with the network and expertise to help you find a Medicare plan that fits your unique needs. Medicareful is a team of over 4,000 licensed insurance agents who are passionate about …

Read More
Original Medicare

Can I Work and Have Medicare?

Sep 9, 2021

Whether beneficiaries are concerned with affording retirement or love their job, Americans are working later in life. In fact, the percentage of older adults working today is the largest since the creation of Medicare in the …

Read More