How To Save On Insulin Costs With Insurance?
How To Save On Insulin Costs With Insurance?
Los Angeles pharmacy, saving on insulin
Your doctor might advise taking insulin if you have Type 1 or Type 2 diabetes to help control your blood
sugar levels. In the United States, more than 8 million people use insulin, but nearly 17% report that
they don’t always take the recommended dosages since their prescriptions are so expensive.
The average cost of insulin almost tripled between 2002 and 2013, and it increased again between 2014
and 2019. The three biggest producers of insulin, Eli Lilly, Novo Nordisk, and Sanofi, are reducing the
cost of their products in reaction to the rising expense of these drugs. Additionally, the federal
government passed legislation to limit the cost of insulin so that it is more affordable for Medicare
members. There are ways to lower your insulin costs, so you can get the prescription you need and keep your
health in good hands. As a Los Angeles pharmacy, we share about saving on insulin with your insurance
policy. Read along to know.
Saving On Insulin With Your Health Insurance Policy
It’s a good idea to review your health insurance policy before your doctor writes you a prescription for
insulin to better understand the following:
Price And Insurance: Find out more about your potential insulin costs by reviewing your summary of
benefits and coverage.
The Formulary Of Your Plan: You can get an idea of which insulins are covered by your health plan by
looking over this list of covered medications.
Out-Of-Pocket Expenses: Find out if there is a deductible, copay, or any other fees associated with the
services and prescriptions you require.
Try to choose a preferred option when discussing your insulin regimen with your doctor. If you currently
take insulin but it’s not the type that’s recommended, you can ask your doctor to obtain a prior
authorization. This letter informs you that due to factors like fluctuating blood sugar or intolerance to
other medications, you must continue taking your present insulin. Just keep in mind that getting the
prior authorization approved could take 2 weeks or longer.
The Affordable Care Act (ACA) guarantees that you have the right to file an appeal if your insurance
provider rejects a prior authorization and you think the decision was made mistakenly or unfairly. By
requesting any documentation from your doctor that could support the claim that your present
prescription is medically essential, you can support your appeal.