I think that the short answer is that: “It depends … on a lot of things.”
Note: all of this part B stuff is only for insulin that is used in pumps that are classified as DME (Durable Medical Equipment) under Medicare and not for normal insulin vials or pens used for MDI. To complicate things, I understand that an Omnipod can either be DME or non-DME.
If you DO have a pump that is DME, then the insulin that it is used is SUPPOSED to be set up with a CPT part B code. As near as I can tell, however, 90-95% of folks using a DME pump, still get their insulin under their Part D (Prescription) plan … even though that is technically wrong.
If I am not mistaken, Medicare part B is supposed to cover 80% of the Medicare-allowed cost of a 30 day supply of insulin. (after, I think, a $195 annual part B deductible).
Some of the factors to consider include:
How good is your Medicare supplement plan? Will it cover some or all of the non-covered 20%? Will it cover your part B deductible?
Is your insulin of choice in the formulary?
How much insulin will you get for a 30-day supply?
Do you need to fill your prescription at more than one location? (Easy with a part D prescription … impossible with a part B insulin prescription).
Note: I think that everyone’s numbers are likely different and for some people, living with the Part D co-pay MAY BE cheaper than doing it the proper way … but, for SOME PEOPLE, their Part B insulin is actually free.
This probably takes some homework … and you may not want to ask your pharmacist if you already have a pretty good co-pay deal under Part D because going the Part B route may actually be more expensive.
After I have a chance … and after I pour myself a glass of wine because this stuff is crazy-making … I will try to post some of my specific numbers as an example. However, my numbers are simply my costs and calculations and your costs and calculations will likely be different than mine.