How much will it cost to get a COVID-19 vaccine?
The COVID-19 pandemic has caused all kinds of harm in the world. However, vaccines are the key weapon against this virus.
The U.S federal government has poured in billions of dollars for the development of vaccines. They have also put in orders for hundreds of millions of doses.
Last year, AstraZeneca announced that its COVID-19 vaccine is 70% effective, making it the third vaccine shown to be effective at preventing COVID-19. Pfizer and Moderna also announced their vaccines were nearly 95 percent effective.
Developing, manufacturing, and distributing these vaccines has come with a hefty price tag.
Here’s the breakdown of government funds and how much will each vaccine cost.
Here’s what the government has spent so far
The federal government partnered with Moderna, Pfizer, Johnson & Johnson, Novavax, and AstraZeneca to help develop, produce, and administer COVID-19 vaccines as quickly as possible.
The federal government pledged close to $9 billion to fund the development and production of the vaccines under Operation Warp Speed in 2020.
Moderna received nearly $1 billion for its COVID-19 vaccine development and also received an additional $1.5 billion for 100 million doses. In February, the Biden administration signed deals for 100 million doses more from Moderna.
Pfizer and BioNTech received $1.95 billion for 100 million doses, but no federal funding was given for the research and development of their vaccine. In February, the Biden administration signed deals for 100 million doses more Pfizer vaccines.
Johnson and Johnson received $456 million for vaccine research and development and 1$ billion for 100 million doses.
Novavax was given $1.6 billion in federal funding for research, development, and 100 million doses.
AstraZeneca received $1.2 billion that covered 300 million doses along with certain costs pertaining to phase 3 clinical trials and manufacturing.
How much does each vaccine cost?
The cost for each dose ranges from $3 to $37, depending on how effective the vaccines are.
Moderna, a two-dose vaccine, each dose costs around $32 to $37.
The Pfizer, also a two-dose vaccine will cost around $19.50 a dose.
Johnson and Johnson’s two-dose vaccine will cost $10 for each dose.
AstraZeneca’s two-dose vaccine costs just $3 to $4 a dose, which is the cheapest in the market.
Novavax’s two-dose vaccine costs around $16 a dose.
Federal health officials previously said that no individuals — regardless of whether they’re uninsured, have private health insurance, or have Medicare or Medicaid will pay out of pocket for the vaccine itself.
The vaccine is free for every American who wants one in 2020 and 2021 – no matter which company made it or what type of health insurance you have.
After the public health emergency is over, the COVID-19 vaccine may be covered like the flu vaccine.
The vaccines are free to the public under the Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law in March 2020.
Experts expect that the cost of the vaccine will increase post-pandemic.
After the pandemic, the cost of the vaccines will depend largely on demand.
The bottom line
The vaccines will be available for Americans at no cost. The Biden administration has signed contracts with vaccine companies for more vaccine shots to ramp up the vaccination process across the country. With everyone getting vaccinated it is expected that America will come back to normalcy.
