Diabetes is a chronic condition that affects millions of people worldwide, and insulin is a vital medication for those who require it. Unfortunately, the cost of insulin has risen dramatically in recent years, making access to this life-saving medication increasingly difficult for many patients. In 2018, how much does insulin cost?
What is Insulin?
Insulin is a hormone produced by the pancreas that helps the body regulate its blood sugar levels. In people with diabetes, the body either does not produce insulin at all (Type 1 diabetes) or does not use insulin correctly (Type 2 diabetes). Insulin injections are often required to help regulate a person’s blood sugar levels and prevent diabetic complications.
The Cost of Insulin in 2018
The cost of insulin varies depending on several factors, including the type of insulin, the supplier, and the location of the pharmacy. According to a report from CNBC, the price of insulin has increased dramatically in recent years.
In some cases, the cost of insulin has doubled or even tripled in just a few years. In 2018, the average price of insulin in the United States is around $450-$500 per month. However, this can vary widely depending on the type of insulin and the supplier.
The Different Types of Insulin
There are several types of insulin available, including:
- Rapid-acting insulin
- Short-acting insulin
- Intermediate-acting insulin
- Long-acting insulin
The cost of each type of insulin can vary widely. Rapid-acting insulin, for example, is more expensive than short-acting insulin because it works faster. Long-acting insulin may be more expensive than other types of insulin because it lasts longer in the body.
The Cost of Insulin by Supplier
The cost of insulin may also vary depending on the supplier. For example, the price of insulin may be higher when purchasing from a local pharmacy than when buying from an online supplier. However, it is important to note that buying insulin online may come with additional risks, such as counterfeit medication.
Why Has the Cost of Insulin Increased?
There are many reasons why the cost of insulin has increased in recent years.
The number of people with diabetes in the United States has been rising steadily, and with it, the demand for insulin. Between 2010 and 2015, the number of adults with diabetes in the United States increased by 14 million. This has put pressure on the supply of insulin, which has led to higher prices.
The companies that manufacture insulin have patent protection over their products. This means that other companies cannot produce generic versions of insulin until the patent has expired. This lack of competition has allowed insulin manufacturers to set high prices.
Some insurance plans may cover the cost of insulin, but not all plans provide adequate coverage. Patients with high-deductible health plans or no insurance may struggle to afford the cost of insulin.
How to Save Money on Insulin
There are several ways to save money on insulin:
Compare the cost of insulin from different suppliers. Prices can vary widely, so it is important to shop around. Additionally, some suppliers may offer discounts for buying in bulk or for first-time customers.
Consider Generic Insulin
Generic insulin is not yet available in the United States, but it is available in other countries. Patients may be able to save money by purchasing insulin from another country, but it is important to ensure that the medication is safe and effective.
Ask for Assistance
Some pharmaceutical companies offer patient assistance programs to help patients afford the cost of their medication. These programs may be able to provide free or low-cost insulin to eligible patients.
Common Questions About How Much Insulin Costs in 2018
- Q: How much does insulin cost per month?
- A: The cost of insulin can vary widely depending on several factors, such as the type of insulin and the location of the pharmacy. In 2018, the average cost of insulin in the United States is around $450-$500 per month.
- Q: Why is insulin so expensive?
- A: The cost of insulin has increased due to factors such as increased demand, patent protection, and insurance coverage. These factors have allowed insulin manufacturers to set higher prices for their products.
- Q: Are there ways to save money on insulin?
- A: Patients can save money on insulin by comparing prices, considering generic insulin, and applying for patient assistance programs offered by pharmaceutical companies.
- Q: Will generic insulin be available in the United States?
- A: Currently, generic insulin is not yet available in the United States due to patent protection. However, it is available in other countries.