From 2002 to 2013, the average cost of insulin has more than tripled. This steep increase in price has led to over one million Americans choosing to ration their insulin to save money. This can lead to deadly consequences, as patients try to balance their high insulin costs with their budget.
Diabetes care is essential to wellness. However, when the cost of diabetes medication is too steep, it makes living with diabetes a challenge.
Fortunately, there are prescription assistance programs that can help with diabetes medication costs. Prescription Hope is one of those programs.
We’ve helped many Americans improve their diabetes management by providing access to life-saving medications, thus reducing high insulin costs for those who need it. Keep reading to hear about some of the people we’ve helped access their medication.
The Problem with Diabetes and High Insulin Costs
Insulin, a lifesaving medication for those with diabetes, has become a glaring example of the high costs associated with prescription drugs. Over the years, the price of insulin has skyrocketed, leaving many patients struggling to afford this essential medication. The reasons behind these exorbitant prices are complex and multifaceted.
One of the main factors contributing to the high cost of insulin is the lack of competition in the market. Only three major pharmaceutical companies currently dominate the insulin market, allowing them to maintain a monopoly and charge whatever prices they see fit. This lack of competition has resulted in price hikes year after year, making it increasingly difficult for patients to afford this crucial medication.
Another factor is the research and development costs associated with insulin. Developing new and improved formulations of insulin requires significant investment in research and testing. While these costs are necessary to advance treatment options for patients, they often lead to higher prices for the end consumer.
Additionally, the intermediaries involved in the pharmaceutical supply chain play a role in driving up insulin costs. Pharmacy benefit managers (PBMs) negotiate drug prices on behalf of insurers and employers, but their tactics can lead to higher costs. PBMs may receive rebates from pharmaceutical companies, but these savings do not always trickle down to patients. Instead, the intermediaries often pocket the rebates, further burdening those in need of affordable insulin.
The high cost of insulin has had devastating consequences for many patients. Some have resorted to rationing their insulin, putting their health and well-being at risk. Others have had to make difficult choices between buying groceries or paying for their medication. This alarming situation calls for urgent action to address the exorbitant prices of insulin and ensure that all individuals who need this life-sustaining medication can afford it.
The Solution
For those who are suffering from the high cost of insulin prescriptions, Prescription Hope is a viable option. With access to over 1,500 prescription medications, Prescription Hope can make insulin affordable, in addition to other medications required for diabetics. Without insurance, insulin can cost as much as $800 per month. Some people will pay as much as $6,000 for insulin each year without the help of insurance. With the assistance of Prescription Hope, that same medication’s cost drops to just $60.00 per month.
Prescription Hope’s Impact on Charity
Charity was dealing with the high cost of insulin, paying $800 per month for her needed prescription. Then she found Prescription Hope, which cut her cost down to just $60.00 per month for her needed prescription. Charity says:
“I needed the medication, and I just could not afford to buy it, to get it. We had just relocated from out of state to Texas. We were in between jobs, trying to find a job, obviously, and we were having to get insurance on our own, and the insurance that was offered to us didn’t cover certain prescriptions, and I’m a diabetic. So, one of those prescriptions was insulin that wasn’t covered under the insurance plan, and it cost $800 to get it. I was already paying over $1,200 for other prescriptions that I needed, such as cholesterol medication and blood pressure medication, and other diabetic medication.”
“My doctor’s office was calling me to let me know that my prescription had been sent to their office from Prescription Hope. And instead of $800, I only had to pay $60.00, which was a relief. So, I definitely would recommend Prescription Hope to anybody who’s going through a hard time, and you need some relief, you need someone to help you, you need an organization that can understand your situation and be there for you. Prescription Hope is definitely one of those organizations. I feel very blessed and I’m very grateful for their assistance and their help.”
Diabetes Care: Find Solutions to High Insulin Costs with Prescription Hope
Diabetes is a lifelong condition. You shouldn’t have to sacrifice your health because you can’t afford your diabetes medication. Prescription Hope is here to help with your diabetes care.
Let us take care of the paperwork and simplify the process. Also, Prescription Hope will get you access to the number of vials that you need of insulin each month, since we charge only $60.00 per prescription per month.
