Washington, D.C. – Today, Rep. Angie Craig (D-MN-02), alongside Reps. Lucy McBath (D-GA-06), Steven Horsford (D-NV-04), Greg Landsman (D-OH-01), and Kim Schrier (D-WA-08), introduced the Affordable Insulin Now Act to cap monthly out-of-pocket insulin costs for diabetics on private insurance. Democrats previously passed into law an insulin cap for people with Medicare, and now they are fighting to expand these savings to everyone.
“No one should go bankrupt buying the insulin that keeps them alive,” said Protect Our Care Director of Policy Programs Vaishu Jawahar. “By capping what privately insured Americans pay out-of-pocket for insulin, the Affordable Insulin Now Act extends a critical lifeline to diabetics and their families. While Donald Trump and Republicans in Congress continue driving up drug costs and padding drug company profits, this legislation will save lives and make health care more affordable for everyday Americans.”
Background
Nearly 8 million Americans rely on insulin to survive. The American Diabetes Association reports that the cost of insulin skyrocketed by 24 percent just between 2017 and 2022, and Americans with diabetes pay an average of 2.6 times more in medical expenses than those without the disease. The Inflation Reduction Act brought much-needed relief to diabetics on Medicare by capping their out-of-pocket insulin costs at $35 a month. However, diabetics not on Medicare still face exorbitant bills for their insulin, leading many to risk their lives by rationing the vital medication. The Affordable Insulin Now Act will cap out-of-pocket costs for privately insured Americans at $35 or 25% of the selected insulin product’s negotiated price — whichever is lower.
Thanks to Democrats fighting Big Pharma, seniors on Medicare are saving:
- Hundreds on insulin thanks to the $35 cap;
- An average of $400 per year thanks to the $2,000 out-of-pocket cap;
- $1.5 billion in out-of-pocket costs next year thanks to newly negotiated drug prices;
- And on shingles and other recommended vaccines, which are free of cost to 54 million seniors.
While Democrats are working hard to put a stop to drug company greed and expand these savings to all Americans, Republicans are fighting to roll them back.