Seniors could pay less for insulin with new Medicare model

The Centers for Medicare & Medicaid Services announced yesterday that it's launching a new voluntary model that would allow seniors to buy insulin with no more than a $35 monthly copay.

Why it matters: Medicare beneficiaries who rely on insulin and are enrolled in a participating plan would save an average of $446 a year in out-of-pocket costs. This move may not target the overall price of insulin, but it could meaningfully lower what seniors pay themselves for it.

Go deeper: Insulin prices propel higher spending among diabetics