US Senators Weighing Approaches to Lowering Insulin Prices for All
May 2, 2023
As US Senators continue to debate over plans to lower insulin prices for all Americans, two bills have taken the forefront. One, by Sen. Susan Collins (R-ME) and Sen. Jeanne Shaheen (D-NH) would cap monthly cost-sharing at 25% of list price or $35. It would also force pharmacy benefit managers (PBMs) to make sure 100% of manufacturer rebates and discounts go to payers.
According to Katherine Ellie Foley and David Lim, “The Warnock-Kennedy effort would offer people with private insurance the Inflation Reduction Act’s price cap for Medicare patients of a $35 copay for a 30-day supply of one of each form of insulin, such as vials or pens — a policy President Joe Biden advocated in his State of the Union Address this year. It also directs the Department of Health and Human Services to set up a program in which the uninsured would have access to the same $35 rate through “qualified entities,” a term that likely refers to federally qualified health centers.”
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(Source: Politico, May 2nd, 2023)
