The Cost Of Insulin Per Patient Nearly Doubled In 5-Year Span Despite Little Improvement To The Drug Itself
The rise in costs was driven by price increases by drugmakers. Insulin has recently become the face of high prescription drug costs in the U.S., and the report is likely to add fuel to the fire. "It must be nice to be part of the American economy where you can raise the price of your product almost 100 percent over five years," said Niall Brennan, who heads the Health Care Cost Institute.
Reuters:
U.S. Insulin Costs Per Patient Nearly Doubled From 2012 To 2016: Study
The cost of insulin for treating type 1 diabetes in the United States nearly doubled over a five-year period, underscoring a national outcry over rising drug prices, according to a new analysis shared with Reuters. A person with type 1 diabetes incurred annual insulin costs of $5,705, on average, in 2016. The average cost was roughly half that at $2,864 per patient in 2012, according to a report due to be released on Tuesday by the nonprofit Health Care Cost Institute (HCCI). (1/22)
Stat:
Patients' Insulin Costs Doubled From 2012 Through 2016, But Usage Was Flat
Specifically, individuals with Type 1 diabetes spent $5,705 on insulin in 2016, up from $2,864 in 2012, while the average daily insulin use rose just 3 percent, according to the Health Care Cost Institute, which analyzed about 15,000 claims from three large insurers — UnitedHealth (UNH), Cigna (CI), and Humana (HUM) — for each person who had at least one prescription for insulin. Meanwhile, the price of all insulin products increased during that four-year period. The average point-of-sale price – or out-of-pocket costs, such as deductibles, co-insurance and what insurers pay – nearly doubled, rising from $0.13 per unit to $0.25 per unit of insulin, which translates to an increase from $7.80 a day in 2012 to $15 a day in 2016 for someone using an average amount of insulin, or 60 units per day. (Silverman, 1/22)
The Hill:
Insulin Costs Doubled Over Five-Year Period: Study
The spending jump is largely driven by price increases, the authors wrote, and not because more people are using insulin. (Hellmann, 1/22)
Meanwhile, in Minnesota —
Pioneer Press:
Minnesota Lawmaker Moving To Address Rising Price Of Insulin
A bipartisan group of Minnesota lawmakers on Tuesday said it would bring legislation aimed at cracking down on the rising price of insulin. At a news conference, legislators said they would aim to require pharmaceutical companies to be more transparent about their reasons for boosting insulin prices and set up a system that would allow those with diabetes to access refills if they can’t afford the drug. The calls for reform came a day after the nonprofit Health Care Cost Institute reported that the price for drugs used to treat type 1 diabetes nearly doubled in the last five years. (Ferguson, 1/22)
MPR:
State Lawmakers Hope To Reverse Insulin Price Spike
State Rep. Michael Howard, DFL-Richfield, keeps a framed photo of Alec on his desk in the House chamber. Howard sees the heartbreaking story as a call to protect the estimated 320,000 Minnesotans with Type 1 or Type 2 diabetes. "Never again should someone lose their life simply because they cannot afford the insulin they need to survive," Howard said. (Bakst, 1/23)
Prescription Drug Watch: For news on rising drug costs, check out our weekly roundup of news coverage and perspectives of the issue.
