Demand and costs for GLP-1s rise in 2024 but consumers have options to shop and save

Prescription drug demand for GLP-1 agonists, a class of diabetic and weight loss medications, has exploded over the past year. In 2023, SingleCare, the free prescription savings service for consumers, saw a 481% increase in fills for these medications when compared to the previous year. The massive increase in demand for GLP-1 medications—which include brands Ozempic, Wegovy, Mounjaro, and Zepbound—has strained supply, creating drug shortages and inhibiting access. 

Most insurance plans do not cover GLP-1s

Along with the strain on supply, there is a drain on the consumer’s wallet, as the cash price for these medications is exorbitant, often exceeding $1,000 for a monthly dose. Americans often bear the full brunt of the out-of-pocket expense for GLP-1s as many insurance plans do not cover these drugs. In fact, new data from obesity care provider Found revealed that 69% of insurers are not providing coverage for this class of drugs, no matter if they were prescribed to treat diabetes or weight loss. Insurers are even pulling back coverage—as the same report discovered that coverage for GLP-1 drugs decreased by 50% since December 2022. 

Drug manufacturers continue to raise costs

The drugs only continue to rise in cost. In January 2024, drug manufacturers raised the price for Ozempic by 3.5% and Mounjaro by 4.5%. The Kaiser Family Foundation noting the United States has the highest cost for Ozempic, five times the drug cost available from the second-most expensive country, Japan. Despite these market factors, consumer demand for GLP-1 drugs continues to soar. In light of high demand, limited supply, and excessive costs, SingleCare analyzed its data to see how consumers can save on these medications.  

On average, consumers can save over $3,000 a year on GLP-1 medications—even without insurance

The average retail price (out-of-pocket cash price) for a one-month supply of popular GLP-1 medications, including Ozempic, Wegovy, Mounjaro, and Zepbound, at the pharmacy is $1,340 or $16,080 a year. However, when using SingleCare at the pharmacy, consumers can currently save an average of $263 a month or $3,164 annually on these medications. When compared to the leading competitors on prescription prices for Ozempic, Wegovy, Mounjaro, and Zepbound at pharmacies nationwide, SingleCare offered the lowest price 90% of the time.

*One pen for Ozempic completes a month’s supply

4 ways to save on Ozempic, Wegovy, Mounjaro, and Zepbound

SingleCare’s Pharmacy and Health Expert Jennifer Bourgeois, Pharm.D., shares her pharmacist tips for how consumers can save on GLP-1 medications. 

1. Compare prices at your local pharmacies: Check prices at local pharmacies near you before filling your prescription. Depending on the drug, prices can vary significantly from pharmacy to pharmacy, so it’s always worth shopping around to see if you can get your medication for less. To save time, be sure to call the pharmacy to confirm they have your medication and dosage in stock before asking your doctor to send the prescription there.

2. Use free prescription discount cards: When paying out of pocket for GLP-1 medications, prescription savings services like SingleCare are free to use and allow patients to save significantly on these and other drugs. There is no requirement to take advantage of these significant savings—and consumers save on average 20% off the retail price of popular GLP-1 drugs when using SingleCare. 

3. Check for manufacturer coupons: Pharmaceutical manufacturers offer savings cards and coupons that can provide dramatically lower costs, however, you must qualify to use these coupons. For example, Novo Nordisk’s Ozempic Savings Card can provide patients with savings up to $150 for a one-month prescription, $300 per two-month prescription, and $450 per three-month prescription.

4. Talk to your doctor or pharmacist: Your local pharmacist can help you navigate savings solutions for your prescription. It’s always advisable to consult your healthcare provider about less expensive alternative medications.   

Methodology: Prices compare the lowest prices available on SingleCare and the leading competitor as of Jan. 8, 2024 for included drugs; average retail price sourced among CVS, Walgreens, Albertsons, Kroger, Meijer, Rite Aid, and Walmart pharmacies. Lowest prices for SingleCare and leading competitor sourced among CVS, Walgreens, Albertsons, Kroger, Meijer, Rite Aid, and Walmart pharmacies. Consumer potential savings based on SingleCare’s lowest price compared to the average pharmacy retail price between Oct. 8, 2023 and Jan. 7, 2024.