This is a step in the right direction. Drug manufacturer Eli Lilly is introducing Insulin Lispro, a generic version of Humalog – an insulin to treat Type 2 diabetes.
However don’t expect for this to appear on your health insurance generic drug formulary anytime soon.
“…those with drug coverage will either experience no change or see some decrease in their costs.“
“Lilly will continue selling Humalog at its regular price to the insurers and employers who want to keep pocketing the large discounts, or rebates, they receive for purchasing brand-name drugs, while also making available a cheaper version to patients who pay for their insulin out of pocket.”
So the higher cost brand name Humalog remains part of the insurance formulary and peculiar rebate “arrangement” while the generic Insulin Lispro will be available to those who pay cash.
Medicare beneficiaries participating in the Social Security Extra Help program and New York State residents participating in EPIC should compare their Part D deductible and copayment costs to the cash price quoted by your local pharmacist.