The cost of diabetes medications in the United States can be so high that some people never fill their prescriptions because they can’t afford them.
The consequences of high costs can be life-threatening, said Charmaine Rochester-Eyeguokan, PharmD, a professor at the University of Maryland School of Pharmacy who specializes in diabetes management.
“Because of cost, many people with diabetes never pick up their drugs, ration their pills or take smaller doses than their doctor prescribed so that the medicine lasts longer,” Rochester-Eyeguokan said.
However, since 2023, the prices for certain types of insulin have dropped, and more diabetes drugs are expected to see price cuts in 2026.
How Much Were People Paying for Insulin?
Before price cuts, insulin cost hundreds of dollars a year for many Americans. People with Medicare or private insurance spent around $450 per year on insulin, while those without insurance paid $996 annually, according to a 2022 report to Congress on the affordability of insulin.
Medicare Price Drops for 4 Diabetes Drugs in 2026
Starting in 2026, Medicare will begin rolling out lower prices for several drugs through its new price negotiation program.
Four of the 10 drugs to receive negotiated price cuts are diabetes medications. These include:
- Jardiance
- Farxiga
- Januvia
- NovoLog/Fiasp
The reductions will be substantial—Medicare estimates that a 30-day supply of Januvia will cost $113 in 2026, down 79% from the 2023 list price of $527. Medicare offers an online chart explaining the new price discounts for beneficiaries.
How Medicare’s $35 Insulin Cap Is Helping Patients
One reason insulin prices have fallen recently is the Medicare Part D cost cap introduced by the Inflation Reduction Act in 2023.
The Act has capped costs at $35 per month, or roughly $420 per year, for people who get their prescriptions through the Medicare Part D program. Not all insulin products are included, but every Part D plan must offer at least some versions at the $35 monthly cap.
A recent report by the Rand Corporation found that the pricing cap is useful. “We found that as the out-of-pocket costs for insulins declined, insulin users were more likely to take the medication as prescribed,” Erin Taylor, PhD, a senior economist at Rand and the lead author of the report, said in a press release.
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Drugmakers Are Also Cutting Prices for Some Products
Following the Inflation Reduction Act’s insulin price caps two years ago, three major manufacturers—Sanofi, Novo Nordisk, and Eli Lilly—also limited monthly costs for some older insulin products to $35 or less.
People with commercial insurance or no insurance can apply for manufacturer assistance programs by completing an online form. Healthcare providers or pharmacists can also help with this process.
Newer versions of insulin, such as those combined with GLP-1 drugs, are typically not capped and can be significantly more expensive.
Rochester-Eyeguokan noted that even $35 can be too much for some patients to pay for a prescription, especially if they get a three-month supply, which could cost $105 upfront. This can add up if a patient also has to pay for other healthcare expenses.
Some manufacturers also offer $0 copay programs for certain insulin products and other medications for people without insurance or who can’t afford their copay. For example, Bayer offers a copay savings card that can be as low as $0 per prescription for people who qualify for its drug Kerendia, used to treat chronic kidney disease in people with type 2 diabetes.
Medicare beneficiaries aren’t eligible for these programs, but those with low incomes may qualify for additional financial help through Medicare.
Some States Are Stepping In With Their Own Insulin Price Caps
Beyond federal action, many states have also introduced price caps for diabetes treatments under Affordable Care Act (ACA) marketplace plans, state Medicaid programs, and health insurance plans for state employees. The details vary by state and the type of coverage.
For instance, Connecticut caps costs at $25 for a 30-day supply of insulin or other diabetes medications and $100 for 30 days’ worth of devices and supplies, such as glucose monitors and syringes. Louisiana sets a $75 monthly copay cap for insulin only.
California has gone a step further by contracting with a nonprofit manufacturer to produce a long-acting insulin that will sell for $45 per package. This is an interchangeable biosimilar insulin that can be a substitute for the following brand-name drugs:
- Eli Lilly’s Rezvoglar (~$89 per package)
- Eli Lilly’s Basaglar KwikPens (~$314 per package)
- Sanofi’s Lantus (~$92.50 per package)
- Sanofi’s Toujeo SoloStar (~$411 per package)
