Broker Check
Associated's Logan Mondshein on High Drug Prices, Insulin Bill

Associated's Logan Mondshein on High Drug Prices, Insulin Bill

April 07, 2022
Share |

Logan Mondshein's niche is employee benefits. He spends countless hours helping employers and their employees make sense of the complicated world of health insurance and group plans. Not only does Logan advise his clients on health insurance coverage - he is looking to spread it to other businesses throughout South Florida and around the rest of the US. 

Mondshein is closely following a bill that has passed in the House to cap the cost of insulin at $35 per month. According to a recent ABC News story, experts say it only costs drug companies $10 to manufacture a vial while it costs for patients can range from $334 to $1,000 a month for insulin. 

"We believe capping the cost of insulin is a good idea, this bill does not get to root of the problem which is drug prices," Mondshein said. "Drug prices are going up higher than cost of physician and facility services for every health plan." 

Because of the costs, some patients may reduce the amount they take or even skip doses... which in turn may lead to costly emergency room and hospital visits. 

 "Adherence to prescriptions, especially insulin is extremely important for patients. It can be pivotal so medical issues do not becoming major claims down the line," he said. 

Mondshein does believe the bill is its current form "does nothing to deal with the major issue which is the price of insulin." He also warned that the drug manufacturer will still be charging a very high price for the insulin.

"This bill will shift the cost of the insulin to the plan from the member. This cost shifting technique will result in higher renewals for fully insured plans and out of pocket costs for self-funded plans.
It is our hope that something is done to help with the cost of insulin, just not this bill in its current state."

Interested in diving into this topic more? Contact Mondshein by email HERE or you can read full coverage in ABC News HERE