CVS Health RxZERO eliminates member out-of-pocket costs for diabetes medications
CVS Health 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.
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.
CVS Health believes that eliminating out-of-pocket costs for diabetes drugs could be an important feature to all health plan sponsors, 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 healthcare services to help patients better manage chronic conditions and complement the care that patients receive from their primary care physicians.
