(CNN) – A health insurer says a new program will help families who have to pay for a lifesaving drug.
Cigna announced the launch of its new patient assurance program Wednesday.
According to the company, the plan will cap out-of-pocket expenses for a 30-day supply of insulin at $25.
Diabetics need insulin because their bodies either do not produce or use it properly.
Cigna says patients paid nearly $42 a month on average in out-of-pocket expenses for the drug last year. That includes deductibles, co-pays, or coinsurance.
Cigna’s announcement comes a day after the FDA announced it would bring competition to the insulin market as a way to lower prices.
One report found a jump in prices for all types of insulin and insulin products.
It noted point-of-sale prices roughly doubled between 2012 and 2016.