Cigna to cap out-of-pocket expenses for insulin

(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.