April 3, 2019 at 10:57 PM EDT – Updated April 4 at 11:38 AM

(CNN/Gray News) – A health insurer says a new program will help families who have to pay for lifesaving insulin.

Cigna announced Wednesday it’s launching the Patient Assurance Program.

According to the company, the plan will cap out-of-pocket expenses for a 30-day supply of insulin at $25.

People with Type 1 diabetes don’t produce it naturally in their body, and need it to regulate their blood sugar levels. Without it, they can die within days.

Cigna’s announcement comes a day after the Food and Drug Administration announced it would bring competition to the insulin market. The federal agency sees it as a way to lower prices.

On average, Cigna says patients paid nearly $42 a month in out-of-pocket expenses for the drug last year. That includes deductibles, co-pays, or coinsurance.

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