Washington, DC – Today, Rep. Ron Kind voted for the bipartisan Affordable Insulin Now Act to cap out-of-pocket costs for insulin at no more than $35 per month. This legislation will help ensure vital and affordable access to life-saving medication for the millions of Americans who rely on insulin to maintain their health and well-being.
“Right now, thousands of Wisconsin families are struggling to access vital treatment due to soaring insulin prices. No one should be forced to choose between paying their rent or affording their medications such as insulin. Today I’m proud to join my colleagues on both sides of the aisle to cap the cost of insulin and make a life-saving difference for those who depend on this medication,” said Rep. Ron Kind.
Insulin prices have skyrocketed in recent years with the average retail price rising by 54 percent from 2014 to 2019, putting access to this essential medication out of reach for too many families. 1 in 4 Americans who rely on insulin have cut back or skipped doses due to costs and 26 percent of Americans with diabetes ration their insulin at least once a year – putting themselves at grave health risk because of prices. Additionally, 34 percent of families with children dependent on insulin have been impacted by rising insulin costs, including adverse health effects and increased stress and anxiety.
The Affordable Insulin Now Act would require private health plans to cover at least one of each type and dosage form of insulin and cap cost-sharing for a 30-day supply at the lesser of $35 or 25 percent of a plan’s negotiated price, and require all Medicare prescription drug plans to cap cost-sharing for insulin at no more than $35. Among individuals with private insurance, half would save at least $19 per month and a quarter would save at least $42 per month. Individuals who buy their own insurance would experience the most savings.
Last week, Rep. Kind joined State Sen. Brad Pfaff and Sarah B., a young professional from Eau Claire living with Type 1 diabetes, to call for action on lowering the cost of insulin.