Bipartisan Bill Works To Minimize The Cost Of Insulin
A bipartisan group of senators is working to relieve the cost burden that comes with high insulin costs. The bill is called the INSULIN Act, and it’s working to cap the cost of the lifesaving medication at $35 per month for Americans using private insurance plans, AP reports.
Senators Jeanne Shaheen, D-Maine, Raphael Warnock, D-Ga., Susan Collins, R-Maine, and John Kennedy, R-La introduced the bill last week. The INSULIN Act would also start a pilot program to provide more affordable insulin to uninsured Americans throughout 10 states.
In 2022, a similar bill passed as a part of the Inflation Reduction Act during the Biden-era. That bill successfully capped the drug at $35 a month for older adults on Medicare. This new legislation is the latest in an ongoing effort from both congressional parties who want to reduce the cost of the drug for the millions of Americans who rely on insulin to live.
If passed, this bill would mark a momentous bipartisan feat at a time where health care costs are continuing to rise. Voters from both parties have voiced their concerns and frustration with health care costs increasing, and this would mark a victory in the effort to make it more affordable for the average American.
The US Centers for Disease Control and Prevention reports that around 8.1 million people in the US use insulin, including over 2 million who have Type 1 diabetes and would die without consistent access to the drug; which also helps control glucose levels for people with other types of diabetes.
The price of insulin has always varied vastly throughout the nation. Some individuals with access to private insurance pay close to zero, while others pay hundreds of dollars monthly. For those with diabetes, insulin isn’t the only monthly cost they have to worry about. They also need to think about the price of pumps, blood glucose sensors, and other medical supplies to help manage their disease.
Over half of the states in the US have taken matters into their own hands as well when it comes to this specific insulin cost issue. The states have passed their own insulin co-pay caps that range from $25 to $200 monthly for individuals with state-regulated insurance plans.
Insulin makers have also worked to help Americans with the cost. Eli Lilly, Sanofi, and Novo Nordisk all cut the cost of insulin either by cutting list prices, capping out-of-pocket costs, and expanding affordability options, AP writes.
According to Matthew Fielder, a senior fellow with the Center of Health Policy at Brookings Institution, around 57% of Americans with private health insurance have self-insured plans that states can’t regulate, meaning they’re left out of state cost-cap bills.
“It puts the onus on the patient, I think, to try to navigate and get the cost down,” said Dr. Leslie Eiland, an adult endocrinologist, who is also advocating for the bill.
Chanse Jones, a spokesperson for the leading trade association for pharmaceutical companies, PhRMA, said “pharmacy benefit managers and insurers are creating access and affordability barriers for patients even as manufacturers try to expand access.”
“We look forward to working with policymakers to ensure middlemen don’t stand between patients and their medicines.”
Advocates are hopeful that the bill will pass, emphasizing the difference it will make for people who require insulin, as well as young people and the future generations who will benefit from the drug.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at eric.mastrota@thenationaldigest.com.
