Insulin Producer Caps Out-Of-Pocket Costs Due To Coronavirus
A major producer of insulin, announced on Tuesday that it is lowering the out-of-pocket cost of insulin to $35 per month due to the coronavirus pandemic.
According to KWQC, Eli Lilly, one of the 3 major producers of insulin, said they are lowering the out-of-pocket cost of insulin to $35 per month, citing financial hardship of people needing insulin due to the coronavirus.
The move to cap the out-of-pocket cost went into effect on Tuesday. The co-pay cap will cover most of Eli Lilly's insulins, including the Humalog injection.
The new program is available to the uninsured as well as commercially insured people with Type 1 diabetes. The pharmaceutical company said it is not available to patients with government insurance such as Medicaid, Medicare, Medicare Part D, TRICARE®/CHAMPUS, Medigap, DoD, or any State Patient or Pharmaceutical Assistance Program due to federal guidlines.
According to KWQC, Eli Lilly says it is exploring extending the cost reduction even after the pandemic crisis ends.