December 05, 2022
The Inflation Reduction Act of 2022 was signed into law in mid-August 2022. Among other points, this new legislation will limit the out-of-pocket cost of insulin.
Starting January 1, 2023, insulin covered under Medicare Part D plans will be capped at $35 for a one-month supply. Additionally, insulin users cannot be charged a deductible for insulin. This $35 per month cap for insulin applies for those enrolled in standalone Medicare Part D Prescription Drug plans or Medicare Advantage Prescription Drug plans. Insulin users who require 60- or 90-day supplies will pay $35 for each month’s supply of insulin. Instead of $35 per prescription, the total cost would be $70 or $105, respectively.
Learn more about Medicare and diabetes.