How Much Does Insulin Cost?

For the millions of people living with diabetes worldwide, insulin is a life-saving medication. However, rising costs for this essential treatment have sparked intense debates about affordability and access.

This article goes over the complex factors affecting insulin prices, along with tips for maximizing savings. Read on to learn the average costs with and without insurance, assistance programs available, and the outlook for future policy changes that could provide relief.

Insulin is a hormone produced in the pancreas that regulates blood sugar. People with diabetes often require synthetic insulins to manage their condition. While the discovery of insulin a century ago was life-changing, today’s prices make affording it extremely challenging. We’ll provide key context around prices and policies impacting this critical medication.

How Much Does Insulin Cost?

The out-of-pocket cost for insulin can range from $0 to over $1000 per vial without insurance, but most patients with coverage pay between $15 to $100 per prescription. For uninsured patients, the minimum cost for older insulin formulas at retailers can be as low as $25 per vial, while maximum costs for newer patented brands can exceed $350 per vial at list price.

At a baseline level, the retail cash price for a 10mL vial of insulin can range drastically depending on the formula:

• Rapid-acting insulin analogs like Novolog, Humalog and Apidra used for mealtime and corrective needs typically retail for $275-$350 per vial without insurance.
• Short-acting insulins like Humulin R and Novolin R cover meals for around $100-$150 per vial.
• Intermediate-acting NPH insulin (Humulin N, Novolin N) has cash prices ranging from $90-$160 per vial on average.
• For long-acting insulins such as Lantus, Levemir and Basaglar, expect retail costs between $250-$450 per vial.
• Ultra-long-acting insulins like Tresiba and Toujeo exceed 16+ hours and retail highest around $500 per vial.

These list prices often exceed what insured patients pay out-of-pocket. But they show how costs for newer insulin analog formulas greatly exceed older versions like human insulin, widening affordability gaps.

According to BetterCare, the cost of insulin for most patients is now capped at $35 per month or less. This change follows significant price reductions by major insulin manufacturers, who have cut prices by 70% to 78% using price caps and savings programs. The Inflation Reduction Act also capped monthly insulin costs at $35 for Medicare beneficiaries, improving affordability and access to this critical medication.

On RAND, it’s noted that U.S. insulin prices are significantly higher than in other countries. While the gross price of insulin in the US is more than nine times higher than in many high-income nations, after accounting for rebates and discounts, the net price remains about 2.3 times higher than in comparison countries.

The GoodRx report highlights that the average price per insulin unit dropped 42% from $0.33 in 2019 to $0.19 in mid-2024. This decline is attributed to the Inflation Reduction Act and voluntary price cuts by major insulin manufacturers, making products like Lantus and Humalog more affordable.

Additionally, Visual Capitalist notes that the cost of a 10 mL vial of Humalog, a fast-acting insulin, reached $275 by 2017 before recent price reductions. In 2024, the price of Humalog dropped significantly to around $66 for a 10 mL vial.

Lastly, CNN reports that Sanofi, Novo Nordisk, and other major insulin manufacturers have established a $35 monthly cap on out-of-pocket costs for many patients, including those with commercial insurance and the uninsured. This move follows years of criticism over steep price increases for insulin.

Costs with Insurance Coverage

While uninsured list prices overstate typical patient expenses, insurance plans reduce costs through subsidized coverage with varying copays or coinsurance rates:

• The average patient with private insurance pays between $15 to $50 per insulin prescription or around $100 to $250 monthly. Deductibles can drive those out-of-pocket costs higher.
• For patients covered under the government’s Medicare Part D program, average monthly out-of-pocket spending ranges from $40 to $133 depending on deductibles and selected plans.
• Medicaid recipients in states fully expanding coverage under the Affordable Care Act pay little to nothing for insulin with low or no copays.
• The uninsured pay the full list prices, although manufacturer discounts and free clinic options exist.

So, while not inexpensive for many patients, insurance coverage makes insulin more affordable than upfront retail prices imply for those with health plans.

Factors Influencing Insulin Prices

Several interconnected factors in the pharmaceutical industry keep insulin prices elevated in America:

• An oligopoly of just three insulin manufacturers – Eli Lilly, Novo Nordisk, and Sanofi – control over 90% of the market, reducing incentives to compete on pricing.
• Patent-protected formulas prevent lower-cost generic and biosimilar insulins from coming to market, unlike small molecule drugs. True generics don’t yet exist.
• The prominent role of pharmacy benefit managers (PBMs) creates opaque pricing and rebates not benefitting consumers.
• Demand is price inelastic due to insulin’s life-sustaining nature for diabetes patients who need it regardless of rising costs.
• Lack of pricing regulations allows manufacturers to hike prices unchecked year after year without market repercussions.

These realities illustrate why addressing insulin access and affordability requires a multi-faceted approach targeting stakeholders across the healthcare sector.

Insurance and Assistance Programs

Despite high baseline prices, various resources exist to reduce insulin costs:

• Major manufacturers offer copay discount programs that cap out-of-pocket costs around $10 to $35 for a month’s supply for eligible individuals.
• Additional patient assistance programs provide free insulin to qualifying lower-income uninsured patients from companies like Eli Lilly and Novo Nordisk.
• Retailers like Walmart and Kroger offer very affordable private label insulin vials for $25 without insurance.
• Apps like GoodRx and SingleCare can be used to find discounts up to 80% off the cash price for brand insulins at major pharmacies.
• Government insurance through Medicare and Medicaid assistance programs subsidize costs for eligible patients based on factors like income, age and disability status.

With some savvy navigation of available savings programs and plans, patients can significantly reduce their insulin costs despite ongoing price inflation.

Ongoing Efforts to Reform Insulin Pricing

You might also like our articles about the cost of EpiPens, Insulin Pumps, or Albuterol Inhalers.

Several initiatives aim to reform insulin pricing and access on a broader scale:

• Federal legislation like the Inflation Reduction Act has, for the first time, capped monthly insulin copays at $35 for Medicare’s nearly 50 million Part D beneficiaries.
• Democratic proposals would extend this $35 copay cap model to all insured patients with private or employer-sponsored health plans.
• Supporting development and FDA approval of lower-cost biosimilar insulin products could introduce much needed competition.
• Allowing importation of insulin from countries like Canada with price regulations.
• Requiring manufacturers to pay Medicaid rebates would ensure taxpayers don’t overpay.

While progress is being made, ongoing advocacy and policy reform are still required to ensure insulin is universally accessible at affordable costs to all who depend on it.

Diabetes Expert Insights

To provide perspective from medical professionals, we consulted experts on practical strategies around insulin affordability:

Dr. Sonia Rhodes, Endocrinologist at Cleveland Clinic

“I guide patients to manufacturer coupons and emphasize comparing insulin prices at different pharmacies using apps like GoodRx. Drug prices remain frustrating, but assistance programs prevent most patients from totally forgoing essential insulin.”

Martin Watts, Diabetes Nurse Educator at Mayo Clinic

“I start uninsured patients on older insulins like Novolin NPH because of the low cost, and coach people through maximizing insurance benefits, health savings accounts, and eligibility for supplementary government programs.”

Dr. William Howard, Family Medicine Physician in Los Angeles

“I appeal all denied insurance claims and file exceptions for non-covered insulins, which often get approved on reconsideration. Going to bat for patients is key, along with referring them to community resources.”

Final Words

The soaring costs of insulin have created immense financial burdens for patients that require comprehensive solutions through policy reforms, pharmaceutical industry shifts, and greater public awareness. But despite flawed dynamics that have allowed uncontrolled inflation, resources and options exist to aid patients in affording this lifesaving medication.

Through insurance navigation, manufacturer assistance programs, community health services, and maximizing competitive retail offerings, most individuals can obtain insulin at manageable prices. Still, ongoing advocacy is essential until systemic changes render insulin’s costs controlled, transparent, and universally accessible to all who need it. Achieving affordability in lockstep with future medical innovation remains imperative.

Answers to Common Questions

How to make insulin cheaper?

Here are some ways patients can reduce their insulin costs:

• Use manufacturer coupons and patient assistance programs to get discounts or free insulin if eligible. Companies like Eli Lilly, Novo Nordisk and Sanofi offer these savings options.
• Purchase low-cost insulin from retailers like Walmart which offers generic insulin vials for $25.
• Ask your doctor for biosimilar brand options which may have lower prices.
• Check prescription discount apps like GoodRx or SingleCare which find the lowest prices at nearby pharmacies.
• Enroll in government assistance programs like Medicaid or Medicare Part D to receive subsidized insulin costs.
• Contact advocacy groups pushing for lower prices and get involved in reform efforts for broader change.
• Buy insulin from Canada or Mexico online at significantly lower costs, with proper safety precautions.
• Appeal denied insurance claims and maximize coverage to lower copays and out-of-pocket costs.

Does insulin need to be kept in the fridge?

Yes, once opened, insulin generally needs to be refrigerated:

• Unopened vials or pens may be stored at room temperature for the period specified on the label, often about a month.
• But once an insulin vial is started, it should be refrigerated and discarded after about a month to maintain effectiveness.
• Insulin pens in use should also be kept refrigerated between use to preserve drug stability, according to most manufacturers’ guidelines.
• Unrefrigerated insulin may become less potent and not control blood sugar as effectively.
• Freezing insulin should be avoided as well, which can damage its chemical structure.
• For people without a household refrigerator, cooling sleeves or insulated pouches can be used to keep insulin cold temporarily when out.

Proper insulin storage helps maintain drug integrity and effectiveness. Following the guidelines for keeping insulin refrigerated unless unopened prevents wastage of this expensive medication.

What happens if you can’t pay for insulin?

There are safety risks if you cannot afford insulin and alternatives to prevent dangerous health situations:

• If uninsured, contact the insulin manufacturer directly about assistance programs or discounted options.
• Look into obtaining insulin from free clinics, community health centers, or emergency rooms.
• Ask your doctor for samples or vouchers from insulin companies for short-term supplies.
• Consider purchasing older human insulin versions like Novolin R or NPH insulin from Walmart, which cost $25 per vial.
• Request a payment plan or bill forgiveness from providers if hospitalized for diabetic complications.
• Avoid rationing or skipping insulin doses, which can lead to life-threatening diabetic ketoacidosis.

Seeking out any available resources, switching to lower-cost insulins if feasible, and never rationing insulin are short-term emergency options until an affordable, ongoing supply can be secured.