Rep. Delgado Votes to Cap Insulin Costs, Ensure Affordable Life-Saving Medication for Millions of Americans with Diabetes
Statement
Today, U.S. Representative Antonio Delgado (NY-19) voted for bipartisan legislation to cap out-of-pocket costs for insulin at no more than $35 per month in Medicare Part D and commercial health insurance. The Affordable Insulin Now Act helps ensure vital and affordable access to life-saving medication for the more than 37 million people in the United States who have diabetes, including one-third of Medicare beneficiaries and the over 7 million Americans who rely on insulin to maintain their health and well-being.
"We need to lower prescription drug costs now. Americans pay more than ten times the price of insulin compared to other similar high-income countries, and the price continues to rise," said Rep. Delgado. "The millions of Americans with diabetes who depend on insulin to maintain their health and well-being should not be subjected to these outrageous prices. I was proud to vote today to cap the out-of-pocket costs for this life-saving drug and help ensure that it is accessible and affordable."
The Affordable Insulin Now Act requires Medicare Part D plans and commercial health insurance plans to cover insulin and cap cost-sharing at no more than $35 per month.
Beginning in 2023, the bill requires private health plans to cover at least one of each type and dosage form of insulin and caps cost-sharing for a 30-day supply at the lesser of $35 or 25 percent of a plan's negotiated price. The bill also requires 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 will experience the most savings.
Rep. Delgado has consistently advocated to lower Medicare and prescription drug costs. At the end of 2021, Delgado called on the Department of Health and Human Services to take action to lower Medicare premiums. In November of 2021, Delgado voted for the House-passed Build Back Better Act which included a similar provision to cap out-of-pocket costs for insulin.
Source