Affordable Insulin Act Passes The House And Will Be Capped At $35.00
In a stunning turn of events, the House of Representatives has just passed a bill that will cap the price of insulin at $35 per month! This is a huge victory for people with diabetes, who have been struggling to afford this lifesaving medication. Insulin prices have skyrocketed in recent years, and many people have been forced to go without this essential medication because they can’t afford it. This bill is a step in the right direction toward making sure that everyone can afford the medications they need.
The insulin bill, which would go into effect in 2023, is just one aspect of Biden’s larger social and environmental legislation. The
A $35 a month insulin cap is a major win for patients and advocates who have been fighting for years to make this lifesaving medication more affordable. This bill will help to save lives and improve the quality of life for people with diabetes. Thank you, House of Representatives, for passing this important legislation!
The House bill, according to experts, would not assist uninsured individuals with the greatest out-of-pocket expenses for insulin. Also, people with diabetes frequently take other drugs in addition to insulin to treat the disease as well as other serious health issues frequently linked with it. The House legislation will not aid in addressing those expenditures.
About 37 million Americans have diabetes, and an estimated 6 million to 7 million use insulin to keep their blood sugars under control. It’s an old drug, refined and improved over the years, that has seen relentless price increases. The three companies that dominate the insulin market — Sanofi, Eli Lilly and Novo Nordisk — have more than tripped the list price of their products since 2007. A vial of insulin that cost $35 then now costs about $270, according to the Health Care Cost Institute.
The high price of insulin has put a severe financial burden on patients and families. A study published last year in the Journal of the American Medical Association found that one in four people with diabetes rationed their insulin because of cost. One in five said they had skipped a dose, and one in seven said they had taken less than the prescribed amount.
When you set your list price for insulin too high, it doesn’t reflect the rates that insurance companies negotiate with the manufacturers. But those high list prices are used to calculate how much patients owe for their insulin. Patients who can’t afford to pay for their insulin may reduce or skip doses as a last resort. This can lead to very serious health consequences, including ketoacidosis, a life-threatening condition caused by high blood sugar levels.
It’s time for the insulin manufacturers to start working towards making this lifesaving medication more affordable for everyone. We hope that the passing of this bill will be a step in the right direction towards achieving that goal. Thank you, House of Representatives
Economist Sherry Glied of New York University said the market for insulin is a “total disaster” for many patients, particularly those who have very limited health insurance or no insurance at all.
“This is a lifesaving product for which there is no real substitute, so the companies have been able to charge whatever they want,” she said.
The new legislation “is a step in the right direction, but it doesn’t solve all of the problems in this market,” Glied said.
Even with the $35-a-month cap on insulin costs, some patients may still find it difficult to afford their medication. This is because the bill does not address the cost of other drugs that people with diabetes frequently take to manage their disease. It is also important to note that this bill only applies to people with private insurance; those who are uninsured will not be helped by this legislation.
However, this bill is a major win for patients and advocates who have been fighting for years to make this lifesaving medication more affordable. It is a step in the right direction towards making insulin more affordable for everyone, and we hope that it will lead to further progress on this issue. Thank you, House of Representatives, for passing this important legislation!
What are your thoughts on the new $35 a month insulin cap? Do you think it will be helpful in making insulin more affordable for everyone? Let us know in the comments below!
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