What effect will Avastin's fate have on healthcare?

The Daily Telegraph in the UK has the latest on the vote from the FDA Advisory Panel to drop Avastin as an endorsed treatment for breast cancer patients. The drug prevented blood flow to the tumors, extending the amount of time before the disease worsened. However, now that the FDA Advisory Panel has dropped their endorsement because the drug may only extend lives by a month, possibly even less, US Insurers could possibly stop covering the drug in their health plans. They cited "cost effectiveness" was the reason their endorsement was dropped.

What are the long term effects this will have on healthcare coverage in the United States? What kind of implications could "Cost Effectiveness" have on future drugs and their coverage on healthcare plans?