Many diabetics are cutting back on their medications because of the cost.
According to the Centers for Disease Control and Prevention, in 2017, nearly 60 percent of U.S. adults, aged 18–64, reported being prescribed medication in the past 12 months. Approximately 70 percent of prescription medications carry out-of-pocket costs, with generics costing on average $6 and brand names costing on average $30.
Strategies to reduce prescription drug costs at the individual level may include asking a doctor for a lower-cost medication, not taking medication as prescribed, or using alternative therapies.
In 2017, the study showed that strategies for reducing prescription drug costs were most common among those who were uninsured compared with those with private insurance or Medicaid. 39.5 percent asked their doctor for a lower-cost medication, 33.6 percent did not take their medication as prescribed, and 13.9 percent used alternative therapies. Among adults aged 18–64, who were prescribed medication, women were more likely than men to use selected strategies to reduce their prescription drug costs.
This year Governor Jared Polis signed a new law that caps the out of pocket costs for prescription insulin drugs to $100 for a one-month supply. The law requires an insurance carrier to keep that price cap no matter how much or what type of insulin a patient requires to control their diabetes.
Click here to read the full study.
