You probably have been hearing about GLP-1 injectable drugs. The steep prices – and popularity – of Ozempic and other similar weight loss and diabetes drugs could soon make them a priority for Medicare drug pricing regulations. The retail price for a month’s supply of the drugs runs from$936 to $1,349! Most Medicare plans will cover them for diabetes only (and not weight loss), but even then, you can very easily be out of pocket a couple of thousand dollars annually in copays.
Medicare shelled out $5.7 Billion for Ozempic, Wegovy and Trulicity in 2022 and that is up from $57 Million in 2018. Legislation passed in 2022, allows Medicare to start negotiating the prices of 10 drugs a year, and Ozempic will almost certainly be a candidate for the 2025 negotiations.
We will keep you posted on developments.