CONGRESSMAN MORELLE TAKES ACTION TO LOWER THE COST OF INSULIN
Votes to pass legislation that will reduce the cost of life-saving medication
(Washington, D.C.) — Today, Congressman Joe Morelle voted to pass the Affordable Insulin Now Act, a bill which would ensure affordable access to insulin for the more than 7 million Americans who depend on it to maintain their health and well-being.
“Over the past two decades, the price of insulin has skyrocketed to the point where millions of Americans can no longer afford the medication they need to survive,” said Rep. Morelle. “I am proud to vote in favor of this critical legislation to ensure no one is forced to cut back or skip doses of insulin as a way of making ends meet. This is an important step forward, and I’ll continue working to lower the cost of all prescription drugs to ease the burden on families across the country.”
In 2019, Rep. Morelle commissioned a report by the House Committee on Oversight and Reform showing the price of insulin for diabetic patients in NY-25 is roughly 21 times more expensive than the identical medicine is in Australia, 14 times more than in the United Kingdom, and 12 times more than it is just across the border in Canada. Even worse, studies show that manufacturers could charge as little as $7-$11 per month for Insulin and still make a profit – yet prices for these drugs continue to rise to over $450 per month. The Affordable Insulin Now takes steps to address this injustice byrequiring both Medicare Part D and commercial health insurance plans to cover insulin and cap cost-sharing beginning in 2023.
Specifically, this legislation will:
- Cap the out-of-pocket insulin cost for Medicare beneficiaries at $35 for a 30-day supply;
- Require private health plans to cover at least one of each type and dosage form of insulin;
- Cap cost-sharing for a 30-day supply of insulin under private health plans at the lesser of $35 or 25 percent of a plan’s negotiated price.
For more information, read the full text of the bill here.