Medicare Part D Spending on Insulin Increased 840 Percent Between 2007 and 2017

From KFF: For More Info, Go Here…

ngd-These increases in costs are killing people….

Medicare Part D spending on insulin increased 840 percent between 2007 and 2017, far outpacing growth in the number of beneficiaries using insulin therapy, according to a new KFF analysis.

The findings come at a time when the cost of prescription drugs is a major focus for policymakers in Washington, with rising prices for insulin drawing particular scrutiny, including from members of Congress.

Part D spending on insulin rose from $1.4 billion in 2007 to $13.3 billion in 2017, an increase of 840 percent, the analysis finds—not accounting for rebates to Medicare–while the number of enrollees using any insulin therapies increased from 1.6 million in 2007 to 3.1 million in 2016—a rise of 86 percent.

Beneficiaries felt the financial hit, too. Overall out-of-pocket spending among Part D enrollees on insulin quadrupled between 2007 and 2016, from $236 million to $968 million, reflecting both rising prices and more insulin users.

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