Reduced costs for HIV medications are on the way.
Florida Insurance Commissioner Kevin M. McCarty announced that effective June 1, 2015, health insurance companies Aetna, Inc. and Coventry Health Care of Florida, Inc. are revising their HIV/AIDS drug formularies for individual health plan members. This change is expected to significantly lower the cost of HIV drugs, said Michael Kahane, spokesman for the AIDS Healthcare Foundation Southern Bureau.
“It is great to see that the positive results of months of dialogue and advocacy among key stakeholders throughout the U.S. have yielded such positive results with an impact that could ultimately be far more significant if adopted throughout the industry,” Kahane said in a statement released by AHF.
Under the new formularies, members of the two health care companies will be able to purchase oral HIV medications as generic or non-preferred brands. A majority of HIV drugs currently labeled as “specialty” are expected to drop into this lower cost tier, Florida insurance officials said.
Additionally, starting in June, Aetna is expected to expand access to HIV medications nationwide, sources at the company said.
“Aetna and Coventry’s actions represent a high level of commitment and responsiveness to the needs of its members,” stated McCarty.