WASHINGTON, D.C. (WRBL) – The White House announced in a briefing this morning that President Donald Trump will host a press conference in the Rose Garden to address the cost of insulin for vulnerable seniors in the U.S.
Kellyanne Conway, counselor to the President, and Seema Verma, Administrator for the Centers for Medicare and Medicaid Services both spoke about the President’s plans for addressing insulin costs for vulnerable Americans as well as took questions in a phone briefing.
The conference, which will be held at 4 p.m. EDT, will focus on changes being made to the coverage provided by Medicare Part D and the monthly cost of insulin for senior beneficiaries of Medicare. Once implemented, the cost of insulin per month will be capped at a $35 copay for seniors in order to help them more easily afford the life-saving medication.
“We recognize that about $50 is the price point at which many seniors stop taking their insulin or skip or lower the dosages so we wanted to make sure that we were hitting that by having this maximum, maximum of $35 copay for a month’s supply of each type of insulin,” said Verma.
The price adjustment for those on Medicare Part D will take effect in January 2021, according to the administration.
Once implemented, Verma says the coverage adjustment will affect the more than three million Medicare beneficiaries that rely on insulin to control their diabetes.
The proposed change to coverage follows what White House officials say is a continuing effort by the Trump Administration to reduce out of pocket costs for insulin by “approximately 66 percent, or two thirds.”
These changes also add onto a previous Executive Order signed by the President to improve transparency in health care the fiscal sustainability of Medicare, according to a White House spokesperson.
During the press conference, the President will be joined by the heads of insulin manufacturers including Eli Lilly and Novo Nordisk, as well as health insurers United Healthcare, Humana Express Scripts, Cigna Services, the Blue Cross/Blue Shield Association, the head of the American Diabetes Association, and others.