WOONSOCKET, R.I., Jan. 29, 2020 /PRNewswire/ -- CVS Health (NYSE:
CVS) today announced a new solution eliminating member
out-of-pocket costs associated with all diabetes prescription
medications, including insulin. Offered through the company's
pharmacy benefit manager (PBM), CVS Caremark, RxZERO enables
employers and health plan sponsors to leverage formulary and plan
design approaches to offer all categories of diabetes medications
at zero dollar out of pocket for their members without raising
costs for the plan sponsor or increasing premiums or deductibles
for all plan members.
"Eliminating out-of-pocket costs for diabetes medications
ensures long-term affordability, improves adherence, and most
importantly, puts patients on the path to better health," said
Troyen A. Brennen, MD, Chief Medical Officer, CVS Health. "A person
living with diabetes is required to take many tasks to manage their
condition annually. Unfortunately, that can include making
difficult decisions about whether they can afford their medications
and fill their prescriptions."
CVS Caremark analysis shows that members taking branded diabetes
medications spend on average, $467.24
out-of-pocket per year, with nearly 12 percent spending over
$1,000 annually. The new RxZERO plan
design enables plan sponsors to eliminate member out of-pocket
costs for the entire diabetes therapeutic area – including oral
medications for Type 2 diabetes – and fully adhere to American
Diabetes Association standards.
"There are more than 30 million Americans living with diabetes,
and far too many of them are struggling to manage their diabetes
because of the high cost of diabetes prescription medications,"
said Kelly Mueller, Vice President
of Community Impact for the American Diabetes Association. "The
American Diabetes Association is committed to helping those living
with diabetes thrive, and accessing the medications they need is
critical. We are hopeful that by eliminating out-of-pocket costs
for diabetes medications, CVS Health will remove one of the
barriers many people face that prevent them from managing their
diabetes successfully."
"Traditionally, the focus of affordability for diabetes
medications has been on insulin, which is the cornerstone of
therapy for the five percent of people with diabetes who are living
with type 1 diabetes," said Brennan. "However, the new CVS Caremark
solution expands affordable options to include the entire range of
diabetes medications – improving affordability for the 95 percent
of people with diabetes who are living with type 2 diabetes."
CVS Health believes that eliminating out-of-pocket costs for
diabetes drugs could be an important feature to all insurance
plans, to help address the growing diabetes epidemic without
increasing other costs such as deductibles and premiums. CVS
Caremark research demonstrates that by leveraging formulary and
plan design approaches, plan sponsors can eliminate member
out-of-pocket costs for all categories of diabetes medications
without raising costs for the plan sponsor, or increasing premiums
or deductibles. The analysis demonstrates the approach leads to
savings for plan sponsors through improved adherence and a
reduction in overall medical costs.
This solution, detailed in a CVS Health white paper, A
Prescription for Better Diabetes Management, is part of
CVS Health's integrated approach to chronic care management and
commitment to making care more affordable, local and easier to
navigate. CVS Health also provides supportive care at its
MinuteClinic and new HealthHUB store format that features a broader
range of health care services to help patients better manage
chronic conditions and complement the care that patients receive
from their primary care physicians.
About CVS Health
CVS Health is the nation's premier
health innovation company helping people on their path to better
health. Whether in one of its pharmacies or through its health
services and plans, CVS Health is pioneering a bold new approach to
total health by making quality care more affordable, accessible,
simple and seamless. CVS Health is community-based and locally
focused, engaging consumers with the care they need when and where
they need it. The Company has approximately 9,900 retail locations,
approximately 1,100 walk-in medical clinics, a leading pharmacy
benefits manager with more than 102 million plan members, a
dedicated senior pharmacy care business serving more than one
million patients per year and expanding specialty pharmacy
services. CVS Health also serves an estimated 38 million people
through traditional, voluntary and consumer-directed health
insurance products and related services, including rapidly
expanding Medicare Advantage offerings and a leading standalone
Medicare Part D prescription drug plan. The Company believes its
innovative health care model increases access to quality care,
delivers better health outcomes and lowers overall health care
costs. Find more information about how CVS Health is shaping the
future of health at https://www.cvshealth.com.
Media Contact:
Trey
Hollern
CVS Health
(401) 430-6717
trey.hollern@cvshealth.com
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SOURCE CVS Health