Out of Pocket Spending on Insulin under $35 Copayment Caps

Abstract

The high cost of insulin has made it inaccessible to many patients who need it. The Inflation Reduction Act (IRA), which was recently signed into law, limits out of pocket (OOP) spending on insulin to $35 for a 30-day supply for individuals covered by Medicare. In this study, we estimate substantial OOP savings for individuals who require insulin, finding that Medicare-insured persons are projected to save nearly one-fifth of their expenditures on insulin.