Baldwin’s Bipartisan Bill to Cap Insulin Costs at $35 per Month for Millions Advances in the Senate
More than 40 million Americans live with diabetes, including over 526,000 Wisconsinites
WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI) voted for and helped advance legislation to cap the out-of-pocket cost of insulin at $35 per month out of the Senate Health, Education, Labor and Pensions (HELP) Committee. The Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act, legislation Senator Baldwin cosponsors, now heads to the Senate floor for consideration by the full Senate.
“Wisconsin families are feeling the weight of rising costs across the board – and for the half a million Wisconsinites with diabetes, the cost of insulin is one more thing stretching their budgets,” said Senator Baldwin. “There is no reason these big drug companies should be able to continue to charge so much for a medicine that has been around for more than 100 years and remains basically unchanged. Our bipartisan legislation to finally stop this price gouging, tackle the root causes of high insulin costs, and cut prescription drug costs is now one step closer to becoming law of the land.”
A report from the American Diabetes Association shows the cost of diabetes in America, including the cost of insulin, continues to skyrocket for patients and the federal government. More than 40 million Americans live with diabetes, including over 526,000 Wisconsinites. The disease is one of the leading causes of death in the United States, claiming over 100,000 lives in 2021. It is also the most expensive chronic condition in the nation, costing Americans a combined total of $412.9 billion per year. The rising cost of insulin presents a barrier to care for a growing number of Americans living with diabetes; 1 in 4 individuals report reducing insulin use due to cost.
The INSULIN Act would directly address the root problems in the insulin market that cause high list prices, while simultaneously extending vital patient protections, fostering competition, and broadening access to needed insulin products. Senator Baldwin also offered a bipartisan amendment to ensure that provisions creating a pilot program to get $35 per month insulin to uninsured patients and establishing a resource center to help patients access affordable insulin remained in the bill, which was adopted. When the legislation gained enough support from both parties to surpass the filibuster and pass on the Senate floor, Senator Baldwin called on Republican Leader John Thune to bring the legislation up for a vote.
Senator Baldwin has long advocated for holding big drug companies accountable and expanding access to affordable health care for Wisconsinites. In 2022, she helped pass the Inflation Reduction Act, which for the first time allows Medicare to negotiate lower drug prices and caps the cost of insulin at $35-a-month for Medicare recipients. The INSULIN Act builds on that momentum to cap out-of-pocket costs for all Americans who rely on insulin.
Full text of the bill is available here.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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