Casten Votes to Lower Cost of Insulin
WASHINGTON, DC — Today, U.S. Representative Sean Casten (IL-06) voted to pass the Affordable Insulin Now Act, legislation introduced by Angie Craig (D-MN) that would cap the out-of-pocket cost of insulin at $35 per month and provide Congress with a commonsense, widely supported vehicle to enact meaningful drug reform to lower the price of prescription drugs for millions of Americans.
"Every week, constituents reach out about how they can't afford the insulin medicine prescribed by their doctors," said Rep. Sean Casten. "I have heard heartbreaking stories of constituents paying more than $400 for just a one month's supply of life-saving medicine. Others are forced to make impossible decisions between paying for medicine or paying to repair their car so they can go to work. I proudly cast my vote for the Affordable Insulin Now Act to get control of the outrageous insulin prices threatening Illinoisans' health and financial security. This legislation will ensure that Illinoisans with diabetes pay no more than $35 for their lifesaving insulin each month. While this is a critical step in the right direction, I will not stop fighting to ensure every American has access to affordable prescription medication and quality health care–with or without health insurance."
Costs to treat diabetes and other life-threatening ailments have skyrocketed in recent years. According to the Health Care Costs Institute, insulin prices nearly doubled from 2012 to 2016, with the average price for a 40-day supply of insulin increasing from $344 to $666. According to the Centers for Disease Control and Prevention, medical costs and lost work and wages for people with diagnosed diabetes total $327 billion yearly, and the American Diabetes Association has asserted that diabetics account for $1 of every $4 spent on health care in the U.S. Between 2011 and 2019, the proportion of Illinois adults ever told by a health professional they had diabetes increased from 9.7% to 11.3%.
The Affordable Insulin Now Act will require private health insurance plans to cover insulin, limiting monthly cost-sharing to $35 or 25 percent of a plan's negotiated price – whichever is lower. It also requires Medicare prescription drug plans to limit cost-sharing for insulin to $35 per month. This legislation comes as House Democrats continue working to advance comprehensive reform addressing the high cost of prescription drugs.
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