Latuda (lurasidone) is a commonly prescribed FDA-approved antipsychotic medication used to treat conditions like schizophrenia and bipolar depression. However, the cost of Latuda without insurance can be a concern, creating a barrier for many people who need the medication.
Latuda is covered by insurance most of the time, but you might need prior authorization or be required to try less expensive drugs before your insurance will pay. For those without coverage, it can be a costly brand-name medication, with an out-of-pocket cost that can reach more than $1700/month, depending on the dosage and where you get it filled. The cost of Latuda with insurance can be as little as $9, but largely depends on your plan, copay, the pharmacy you go to, your dosage, and other factors.
Read on to learn more about the cost of Latuda without insurance vs. with coverage and to explore your options for making this drug more affordable.
Is Latuda Covered with Insurance?
Latuda is generally covered by insurance, but how much you should expect to pay depends on your policy. Most employer-sponsored insurance plans, Medicaid, and Medicare Part D, include Latuda in their formulary, though the exact drug coverage may vary.
- Employer-sponsored insurance: Many private insurance plans categorize Latuda as a Tier 2 or Tier 3 drug, which means it’s subject to copays or coinsurance. The exact amount you’ll pay will depend on your policy’s terms.
- Medicaid: Medicaid generally covers Latuda, but each state’s specific Medicaid formulary can impact the associated costs or approval requirements.
- Medicare: Medicare Part D plans frequently cover Latuda, though your out-of-pocket cost will depend on your plan and whether you’ve reached your deductible or the coverage gap phase.
Always verify coverage with your insurance provider and determine if prior authorization is required, which is common with some high-cost medications.
Cost of Latuda without Insurance
Latuda’s cost without insurance can be high. The price typically ranges between $1,400 and $1,600 per month for a 30-day supply. If you’re uninsured, shopping around and comparing prices between different pharmacies can make a noticeable difference in cost. If you’re wondering how to get mental health medication without insurance, keep in mind that the exact cost will vary based on several factors influencing Latuda’s out-of-pocket price.
- Dosage strength: Higher doses of Latuda can be more expensive because they contain more of the active ingredient.
- Pharmacy pricing: Retail pharmacy prices vary significantly. Large chain pharmacies often have different pricing structures compared to independent pharmacies or online retailers, so it pays to shop around for the best price.
- Geographic location: Medication costs can vary based on state regulations and pharmacy pricing policies, meaning where you live can influence the price of Latuda.
- Manufacturer discounts: Some pharmaceutical companies offer discount programs or patient assistance initiatives to help reduce costs for uninsured individuals.
“Factors that impact the cost of Latuda are whether or not you purchase the brand name or generic brand, your insurance coverage, or the pharmacy you use. The generic name is as safe and effective as the brand name and costs less than the brand name. The cost of drugs without insurance is more than with insurance. However, using a mail-order pharmacy and getting a 90-day supply may lower the cost of the medication.”
– Talkspace therapist, Dr. Olga Molina, D.S.W., LCSW
Cost of Latuda with Insurance
The cost of Latuda with insurance will ultimately depend on your specific plan. Copays for Latuda can range from $10 to $100 per month, but coinsurance plans may require you to pay a percentage of the drug’s retail cost, leading to higher out-of-pocket expenses.
Some factors that determine your cost with insurance include:
- Insurance tier placement: Latuda is frequently classified as a Tier 2 or Tier 3 medication, which influences copayments and whether prior authorization is needed.
- Deductibles: If you haven’t met your annual deductible, you might be responsible for the full cost of the medication until you do.
- Coverage limits: Certain insurance plans place coverage caps or restrictions on high-cost prescription medications like Latuda.
To get a clearer picture of your out-of-pocket expenses, check your insurance plan’s formulary and speak directly with your provider.
How to Get Latuda without Insurance
If you don’t have insurance, there are still ways to make Latuda more affordable. Here are some steps to explore:
- Apply for manufacturer assistance programs: The manufacturer of Latuda offers patient assistance programs for those who meet income and eligibility requirements. These programs can drastically reduce or even eliminate the cost of Latuda.
- Look for prescription discount cards: Look for websites and apps that help you find discounts at local pharmacies, sometimes cutting costs by hundreds of dollars.
- Request generic alternatives: Latuda has a generic version, lurasidone, which can be significantly cheaper.
- Compare pharmacy prices: Use online tools to compare prices across pharmacies. You might be surprised at the differences in cost from pharmacy to pharmacy.
Affordable Online Mental Health Treatment
Managing the cost of Latuda with insurance or without is only part of the equation. Getting convenient mental healthcare is just as important in managing symptoms of mental health conditions like bipolar or schizophrenia.
Talkspace offers affordable mental health treatment, with access to licensed online psychiatrists who can evaluate your needs, offer a care plan, and prescribe certain medications like Latuda when appropriate.
Talkspace is covered by most major insurance plans, making it easy to prioritize your mental health without worrying about the cost. Whether you’re wondering about Latuda’s side effects or looking for cost-effective alternatives to Latuda, Talkspace is there to support you.
Take the first step to getting help by connecting with a psychiatric provider for a Latuda prescription online.
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