How to save money on insulin—with or without insurance

Here’s why insulin is so important. You typically eat three types of foods: carbohydrates, fats, and proteins. Your body breaks down the carbohydrates you eat into sugar, which then enters your bloodstream. Normally, specialized cells in the pancreas secrete insulin, which is a hormone that helps transport sugar from the bloodstream into the cells of the body to be used for energy. But if your pancreas doesn’t produce enough (or any) insulin to keep this process moving along, your blood sugar levels can start to increase over time. If you have diabetes and you’re not being treated, you’re at risk of serious complications like diabetic ketoacidosis. 

When you need insulin, there’s no substitute. “Without insulin, [people with] Type 1 diabetes can go into a coma and die,” says Romy Block, MD, an endocrinologist and founder of Vous Vitamin. Even some people with Type 2 diabetes use insulin and may have difficulty maintaining their blood sugar levels if they can’t take their insulin in the appropriate amounts. 

That’s why the high price of insulin has become such a hot-button issue. It may be a problem for you or someone you love, too. But the good news is that savings programs exist to help make it more affordable. 

RELATED: List of insulin

How much does insulin cost?

The cost of insulin has risen sharply in recent years. In fact, the Health Care Cost Institute reported that point-of-sale prices of insulin doubled between 2012 and 2016. 

So why the high costs? Some note that the pricing may be the result of a lack of competition. The insulin market in the U.S. is “highly concentrated,” according to a 2020 analysis in the Journal of Law and the Biosciences, which pointed to the domination of the U.S. insulin market by just three pharmaceutical companies: Novo Nordisk, Sanofi, and Eli Lilly. The high cost of insulin may also be related to a shift in recent years from using human insulin, which can be produced at a relatively low cost, to using more synthetic forms, also known as analogues, which are more expensive. 

The type of insulin you’re taking can also affect your bank account. If you’re like many people with Type 1 diabetes, you may even need a couple of different kinds: basal (intermediate- or long-acting) and mealtime (rapid- or short-acting). 

The newer forms of insulin on the market tend to be more effective and easier to administer than their older counterparts, but they also tend to cost more, according to a 2020 report from the Commonwealth Fund. According to a 2021 report, a vial of a newer version of insulin retails for somewhere between $175 and $300, and many people need to use two or three vials per month. Some people may need even more, in fact.  

Your insurance coverage or lack thereof can make a challenge even more, well, challenging. If you don’t have insurance to offset the price, the cost of insulin can really add up—quickly. And you have to factor in the cost of supplies, too. 

How much is insulin without insurance?

All told, the cost of insulin without insurance can be as much as $1,300 each month. 

How much is insulin with insurance?

If you do have insurance, the bill can still be significant, given the copays and cost of supplies. A few things that can affect the cost of insulin with insurance include whether you’ve met your deductible, which tier your insulin is on in your insurance plan’s drug formulary, how much insulin you need, and which pharmacy you fill your prescription at.

How to save money on insulin

Some progress has been made to address the burden of the high cost of insulin, although many of the benefits apply to people who already have Medicare or other health insurance. Colorado became the first state to place a cap on the price of insulin, when it enacted a law in 2019. The law limits the cost of insulin to $100 per month. However, the cap doesn’t help everyone who needs insulin; it only applies to people with insurance. Also, not all insurance plans qualify for this cap.

In 2020, the Centers for Medicare and Medicaid Services (CMS) announced it was shifting to a model to allow $35 monthly copays for insulin under Medicare Part D prescription drug plans from the beginning of the plan year through the Part D coverage gap. The enhanced plans became available in 2021. A CMS statement suggested that a Medicare beneficiary enrolled in one of these plans could save as much as $446 on insulin.

Access to affordable insulin is critical, experts maintain. “Studies have shown that low or no-cost insulin not only improves the long-term health of the person with diabetes but saves money as well by preventing costly emergency room visits and diabetes complications,” explains Aaron Turner-Phifer, director of health policy for the nonprofit JDRF, an organization that advocates for affordable, accessible insulin for all.

Fortunately, there are options that can help you save money and afford the insulin you need. The following savings tips may help you reduce the amount of money that you have to spend on insulin for managing your diabetes and keeping good control of your blood sugar levels. 

1. Try Partnership for Prescription Assistance

This program is co-sponsored by pharmaceutical companies to help low-income, uninsured patients get access to medications at a reduced cost or for free. The Medicine Assistance Tool can help you search and determine if you qualify for prescription assistance programs.

2. Check out manufacturer patient assistance programs 

Many drugmakers offer patient assistance programs to help uninsured people with the cost of meds. For example, you could contact the Novo Nordisk Patient Assistance Program (NovoCare) for info about getting affordable access to diabetes medications, including insulin. Another option is the Lilly Cares program, which includes a number of products on its list of medications covered, including several formulations of Humalog (insulin lispro). 

3. Access Medicare Part D’s Senior Savings Model

Lower out-of-pocket costs for insulin are good news for the 3.3 million Medicare beneficiaries who use insulin. If you’re over 65 and qualify for Medicare, you may want to check out the Part D Senior Savings Model. The model launched at the beginning of 2021 to offer more Plan D options with reduced-cost insulin. 

4. Consult NeedyMeds

NeedyMeds is known for its large database of resources for people seeking information on cost-saving options, including patient assistance programs, state assistance programs, and medication discount programs. 

5. Use a copay card

It may be worth investigating if you qualify for a copay card from a company that makes insulin. The Lilly Insulin Value Program offers a set monthly price of $35 for most of its insulin products to people with or without commercial insurance. However, eligibility requirements apply. The program is not available to people whose insulin is covered by Medicaid, Medicare, or other government programs, as well as anyone enrolled in a state patient or pharmaceutical assistance program. 

6. Try Walmart’s ReliOn brand

In mid-2021, Walmart and Sam’s Club pharmacies began offering lower-cost options by selling its own private brand of rapid-acting, analog insulin, ReliOn NovoLog. The insulin is manufactured by Novo Nordisk. According to a corporate report from Walmart, analog insulin vials will sell for $72.88 and FlexPen for $85.88. “These products will save customers between 58% to 75% off the cash price of branded analog insulin products, which translates to a savings of up to $101 per branded vial or $251 per package of branded FlexPens,” the report said. 

RELATED: What’s on the Walmart $4 List

7. Try RxAssist

Another online resource that might be worth checking out is RxAssist, which maintains a comprehensive database of patient assistance programs. 

8. Use a prescription discount card from SingleCare 

A prescription savings card from SingleCare may be just the ticket. Our free service allows you to search for a pharmacy in your zip code and compare prices of insulin. 

If you haven’t used SingleCare yet, don’t worry, it’s easy! Follow these simple steps.

1. Visit our website or download our app (available for both iOS and Android).
2. Search for your insulin—make sure to adjust for dosage, quantity, and zip code. 
3. Click on your favorite pharmacy and either text, email, or print a free drug coupon. 
4. Bring the coupon with you to the pharmacy and show it to your pharmacist or tech.  

Yes, you read that right: No sign up or personal information needed. No strings attached, just lower prices to help you feel better.

Free insulin coupons and other diabetes discounts

Looking for coupons for your type of insulin? Here are our discounts on these commonly used brands.

Don’t let cost be the reason you skip insulin

It’s easy to say “just take your insulin” and not so easy to do if cost is a barrier. When the cost of insulin is too high, some people skip taking doses of their medication. Or many just try to ‘get by’ through rationing their insulin. Rather than using the amount prescribed by their doctor, they use less, hoping to stretch their insulin supply to last longer. 

“This is an extremely dangerous practice, as insulin is dosed on an individual basis, from patient to patient,” says James Lott, Pharm.D., founder and CEO of Scripted. “Dosing insulin for a patient is something a primary care provider should manage. Rationing insulin can lead to several poor outcomes including death.”

Unfortunately, rationing or skipping doses is not an unusual occurrence. A 2019 article published in JAMA Internal Medicine found that one quarter of participants reported “cost-related insulin underuse.” Not only that, but many of them had poorer glycemic control than the people who did not report using less insulin for cost reasons. The problem tended to be greater among people who reported having lower incomes. 

The bottom line is that if you need insulin, you need it. You can’t go without it, and it’s dangerous to skip doses. Talk to your healthcare team and let them know if you’re struggling to pay for your insulin or other diabetes care supplies. There are resources that can help. One or more of the aforementioned tips might be able to help you, but your doctor might also have some suggestions.