(CNN) Health insurer Cigna is launching a program that will cap out-of-pocket expenses at $25 for a 30-day supply of insulin, the company said Wednesday. Last year, patients paid an average of $41.50 a month out of pocket, including deductibles, copays or coinsurance, for the lifesaving diabetes drug, the company said.

The Patient Assurance Program will be available to members of participating non-government-funded pharmacy plans managed by Express Scripts, including Cigna and other plans. Cigna acquired Express Scripts, the largest US pharmacy benefit management company, in December.

"In most cases, people who use insulin will see lower out-of-pocket costs without any increased cost to the plan," the company said.

The move follows the US Food and Drug Administration's announcement Tuesday that it intends to bring competition to the insulin market as a way to lower prices. Commissioner Dr. Scott Gottlieb said the FDA would change how insulin is regulated in order to enable products that are biosimilar to (or interchangeable with) insulin to come to market.

Biologics are typically isolated from a natural source and may be produced through biotechnology and other cutting-edge technologies, Gottlieb explained: "Once an interchangeable insulin product is approved and available on the market, it can then be substituted for the reference product at the pharmacy, potentially leading to increased access and lower costs for patients."