Ozempic, Wegovy and other GLP-1 drugs have become hot commodities, but people who are hoping to use them may be shocked by the sticker price.
Insurance coverage varies for these medications, and even if your insurance does cover them, you may still need to pay a copay or coinsurance. Here’s what to know.
Must Read
- Experts are Bullish on Gold -- Here's How to Get In
- Warren Buffett on Market Volatility -- and 3 Ways You Can Take Advantage
What these drugs cost
Ozempic currently has a list price more than $1,000. However, if you’re using it for Type 2 diabetes, you may be able to get it covered by your insurance. If you have insurance, your cost will vary depending on your specific plan. For instance, you may just pay a copay of between $25 and $50. GoodRX has a tool on its site for seeing how much your medication typically costs with your specific type of insurance.
Wegovy and Zepbound are drugs approved by the Food and Drug Administration (FDA) for weight management. The list price of Wegovy is more than $1,300 for a 28-day supply, but you can get it for as little as $25 per month with insurance. The list price of Zepbound is up to $1,086 for a 28-day supply. Though again, you may be able to pay as little as $25 for a month, depending on your insurance.
Keep in mind that the monthly costs of these drugs are only one part of the total bill since drug costs do not include doctor visits, lab work and other associated costs. Plus, prices change. The list prices of Ozempic and Wegovy are expected to come down by up to 50% next year to make them more accessible to people with insurance.
Where You Can Find Weight Loss Deals Right Now
- Remedy: Personalized plans and $120 off your first month
- Medvi: No membership required, no insurance required
What to know about insurance
Insurance makes drug prices more complicated because each person’s coverage is different. Some GLP-1 drugs are only covered for diabetes, while others are covered for weight management. Coverage also varies based on the drug’s tier and whether prior authorization is required.
Your plan can also dictate what your financial responsibility is beyond that, including whether you need to reach a certain deductible or pay a copay.
This variability affects public coverage, too. The Centers for Medicare & Medicaid Services (CMS) recently said that broader access to GLP-1 drugs for weight loss could begin in Medicaid as early as May and in Medicare Part D in January 2027, under its BALANCE Model.
It’s important to review the annual costs for these medications to determine if budgets are flexible enough to accommodate the extra cost. Tax-advantaged accounts like flexible savings accounts (FSAs) and health savings accounts (HSAs) can also help. When receiving a drug, plan for the long haul of monthly payments instead of basing your financial decision on how much the first prescription costs.
Must Read
- Experts are Bullish on Gold -- Here's How to Get In
- Warren Buffett on Market Volatility -- and 3 Ways You Can Take Advantage