Did you get the best insulin pump price? What is the right insulin pump cost on a monthly basis? How do you get the best deal? It can be frustrating to find good information. The answer to these questions depends on your circumstances. Let’s take a look below.
IF YOU HAVE INSURANCE
Okay, so you want a pump, now here comes the tough part: The insulin pump price. Let’s talk about insurance first. If your doctor finds it medically necessary, and your insurance company accepts his opinion, then you get it for free! The insulin pump cost is nothing. Good stuff. Of course, this assumes there is no deductible associated with your policy. Wahoo!
IF YOU DON’T HAVE INSURANCE
Now let’s talk about the cost if you have no insurance. Hold on, brace yourself. The cost is approximately $6,000 for most pumps. It gets worse. The ongoing cost of running the pump each month can vary from about $150 to $300. Ouch!
So, you don’t have insurance and you don’t have $6,000. What are your options? Most pump manufacturers and/or their suppliers do have programs where you can get the pump for a nominal cost, possibly for free. Why would they do that?
You guessed it. They want your monthly maintenance business. Let’s say the cost of running your insulin pump is $225 a month. Take this amount and multiply it by 48 months (4 years) which is roughly the lifespan of the pump. This comes to $10,800. In order to get the lower price (or free) pump, you typically have to commit to purchase their supplies for the life of the pump.
Is it wrong to compare this to a pusher who gives you the initial vile of crack cocaine for free, knowing he owns you and your drug habit for life? Yeah, it probably is wrong, but it is a little fun anyway!
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Any other options? The OmniPod insulin pump by Insulet Corporation can typically be had for much less, around $1,000 to $2,000. The drawback is that their supplies tend to be more expensive, so you tend to pay the overall cost one way or another. The DANA IIS tends to be about 25 to 35% less than competitors, so it may be the best option for those on a budget.
Regardless of your situation, ask your doctor what the best choice is. Routinely, they can get better deals than you. They can also steer you in the right direction for less expensive supplies. Don’t go this one alone. If he or she is recommending the pump, then your doctor needs to understand and take some responsibility for helping you source the pump and pay for it.
Sometimes you come up empty, but other times you can get a great deal. Even with the doctors recommendation, ask around, call around, surf the net. At any given time there are deals to be had. Most pump manufacturers advertise free pump programs.
HOME OWNERS INSURANCE AND WARRANTY
Lastly, don’t forget insurance. Imagine you get a $6,000 pump for free and you drop it. Woops. All insulin pump manufacturers have a 4 year warranty.
Sometimes the manufacturer’s warranty will cover the damage or replace it. Probably not, but it is worth asking.
Regardless of the warranty, call your home owners or renters insurance policy holder just in case. For a nominal cost, you can often get a rider on the policy to cover accidental damage to the pump.