Insulin Scandal

[Despardo]

I have railed about this particular issue in another thread, and had considered posting this comment in "politics." I decided that the issue transcends (or should transcend) party politics, and that it may well affect a significant number of members of this group, many being of a "certain age."

 

I rely on a prescription drug benefit plan through my health care provider in partnership with Medicare. Up until the beginning of 2017, the plan has served me well as I rely upon a range of monthly maintenance medications of which insulin is an indispensable component. The plan covers my prescription drug needs with reasonable co-payments on my part up to $3300 per year total drug costs. When I exceed that amount in a given year, I am cast into the outer darkness where there is great wailing an gnashing of teeth--otherwise known as the "doughnut hole."

 

In 2016, I fell into the doughnut hole in mid-December of that year, and had to pay a bit more for some drugs purchased in that month, which did not amount to much. In 2016 and in the 2 previous years, the manufacture's monthly cost for my insulin was $145 of which my monthly co-pay was only $8. As of the beginning of 2017, the monthly manufacturer's cost for the same amount of insulin jumped to $695--a single increase of over 400%.

 

This increase was effected by the collusion of 3 major suppliers, Novo Nordisk, Eli Lilly and Co., and Sanofi U.S.--Big Pharma's Axis of Evil. "Coincidentally" all three decided in November of 2016 to increase the price of insulin by 400% even though there had been no increase in the cost of production, a clear violation of the RICO act. Martin Shkreli attracted nationwide attention when he pulled the same stunt with a 500% increase in the cost of the EpiPen. The only difference here is the sheer number of persons dependent on insulin versus the number of persons at risk from life-threatening allergic reactions. I should also point out that the price of a single vial of insulin (without medical insurance) in Canada, Mexico, and the EU is approximately $35, while in the U.S. the price of the same vial is $115.

 

So, how does this affect me? Well, my co-pay for one month's supply of insulin actually dropped from $8 to $4, Medicare paying the balance, however, the hugely increased manufacture's cost is applied to my total prescription drug benefit cap. In 2017, I will now fall into the doughnut hole in June instead of some time at the end of the calendar year. From June forward, I will wind up paying more for all of my prescription drugs, not just the insulin. The pharmaceutical companies mentioned above have contrived to rip off both Medicare and the individual consumer at the same time.

 

http://www.courthousenews.com/insulin-drug-makers-accused-of-price-fixing-plot/

[handiacefailure]

I'm on insulin and would be broke if I didn't have insurance. I live less than an hour from Canada and insulin is only around $35 a bottle retail there. If I ever lose my drug coverage you better believe I'll be going to Canada for my insulin

 

I understand why parents were pissed about epipen prices last year but it made me mad the media didn't focus on insulin cost. Most people only need 1 epi pen a year as opposed to diabetics need a few vials of insulin a MONTH.

 

And I'm glad I'm not on Medicare since they won't cover the insulin pump I'm on and I don't think they cover a continuous glocuse monitor

[Rudynate]

I start Medicare next month. Truvada plus my other scripts will push me into the donut hole after two months. I'm going to get most of my scripts filled offshore.

[+ not2rowdy]

The May 2017 AARP Bulletin newspaper has an informative article titled:

“Why Our Drugs Cost So Much”

 

http://www.aarp.org/bulletin/

 

The “top” link doesn’t seem to go anywhere but click on

“Where AARP Stands on Drug Prices”

“7 Ways to Reduce Medication Costs”

[edjames]

I, too am an insulin dependent diabetic.

I also am on Medicare +Part D and Silverscripts.

The prices for insulin are outrageous! I always fall into the "donut hole" every year.

 

For those not on Medicare and struggling with drug prices, go to the drug manufacturers website and look at what coupons and discount programs they have available. Two most common types of insulin are Novolog and Lantus, here are the website url's to check on their programs. You may not have to travel to Canada!

 

https://www.novolog.com/type-2-diabetes/considering-novolog/savings-and-coverage/patient-assistance-program.html?campaign=000732298

https://www.lantus.com/sign-up/savings-registration?utm_source=msn&utm_medium=cpc&utm_content=Lantus%20Savings%20Card&utm_campaign=Brand%20-%20Lantus_MBR&utm_term=%20+lantus_58227170-VQ16-c-VQ14-100742161&moc=LANCO23696WB

 

Also, I recently visited my diabetes nurse educator and she had an abundant supply of blood glucose monitors available, for free, which she gave me not one, but two!. Diabetes Nurse educators are covered under Medicare, so check them out.

[+ sniper]

This cartel pricing is really disgusting. I remember working in my college pharmacy in the 90sa and thinking "wow, insulin is reasonably cheap." You didn't even need a prescription to buy it legally at the time.

 

For all the talk of you can't stop stuff like this, there is nothing to prevent them regulating price increases on off-patent medicines. The companies will still make them because there is profit to be made.