Cigna Announces Copay Deal

Only half of health insurer Cigna’s (NYSE:CI) clients currently cover the popular GLP-1 weight loss drugs Wegovy and Zepbound because of their high costs. But the company’s pharmacy benefits unit Evernorth has reached a deal with drug makers Ely Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO) which it said will bring prices down for employers and their workers.

“This solution is really focused towards clients that aren’t covering it today, and what it allows us to do is one, to bring it on at a reduced price for the plan sponsor, but also capping out the members’ cost at $200,” per month said Harold Carter, Evernorth senior vice president of pharmacy relations.

Many of Evernorth’s clients currently offer the drugs to workers with co-pays as low as $25 per month. For those who have been hesitant to cover the medications because of cost, capping employee out-of-pocket costs at $200 would amount to less than half the price consumers pay in cash without insurance if they bought the drug through Ely Lilly or Novo Nordisk’s direct-to-consumer websites.

The new deal will also include a simplified pre-authorization process for the drugs, and patients will be able to access the drugs for the same price across retail pharmacies, or through Evernorth home delivery service, the company said.

Those new services and discounts will also be provided for Evernorth clients already offering the weight loss drugs.

CI shares began Thursday trading down $3.33, or 1.1%, to $313.76.