White House Unveils Plan to Cap Insulin Costs for Seniors

The White House announced on Tuesday that seniors with diabetes will be able to enroll in Medicare plans that cap their insulin co-payments at $35 a month starting in 2021, reports National Public Radio . The new insulin cost options stem from an agreement between the Trump administration, insulin manufacturers, and major insurers. "We brought all of the parties to the table . . . and reached an agreement to deliver insulin at stable and drastically lower out-of-pocket cost for our seniors," President Trump remarked. U.S. Centers for Medicare and Medicaid Services Administrator Seema Verma said plans that offer the insulin cap will have higher premiums, costing about $17 more monthly than the average cost of basic plans. "In exchange for a minimal premium increase, beneficiaries get a maximum fixed $35 co-pay for a month's supply of insulin," she explained. Verma added that the new option will ultimately save seniors 66 percent on insulin costs, and should this prove successful, similar policies will hopefully be applied to other costly drugs.