Oscar Health caps price of 100 drugs at $3 per month

Health insurer startup Oscar Health said it will reduce the out-of-pocket price for a month's supply of 100 commonly used drugs to just $3 for its individual insurance plan members. 

The list of 100 drugs includes insulin, antibiotics, blood pressure medicines, cholesterol drugs and migraine drugs.

"We looked at the most common therapeutic areas for our members, and with clinician input, we picked drugs that had the best cost and clinical effectiveness. We came up with a list of about a hundred drugs that represent 90 percent of the use cases that somebody might need a prescription for," said Vinod Mitta, MD, vice president of pharmaceuticals at Oscar.

Oscar said it made the decision to cap the out-of-pocket cost of 100 of the most common drugs to boost medication adherence, which typically results in fewer physician and emergency room visits.

"Solving this problem is good for business, but making sure people have access to medication at a reasonable price isn’t a matter of economics, it’s a matter of ethics," Oscar CEO Mario Schlosser said.

Access the full list of 100 drugs here

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