Reps. Craig and Fortenberry Introduce Bipartisan Legislation to Cut Insulin Prices

Press Release

This week, Congresswoman Angie Craig (MN-02) and Congressman Jeff Fortenberry (NE-01) introduced Matt's Act, a bill addressing high insulin prices. By eliminating the role that middlemen, pharmacy benefits managers (PBMs) play in increased drug costs, this legislation rethinks insulin pricing by allowing patients without insurance to purchase insulin at the net rate and capping copays for patients with insurance. Currently, the estimated 358,093 Minnesotans who live with diabetes spend between $1,200 and $20,000 annually on insulin.

"Minnesotans are dying because of the real-life impact of the cost of insulin and other life-saving prescription drugs," said Rep. Craig. "I'm proud to join Rep. Jeff Fortenberry in a bipartisan effort to fundamentally rethink insulin pricing by eliminating an unnecessary step in getting this lifesaving medicine to folks with diabetes. I look forward to passing this common sense legislation to address the insulin crisis."

"Late last year, a Nebraska dad contacted me about the sky-high cost of his 13-year-old son's insulin. His son Matt, who was newly diagnosed with Type I diabetes, told me that he could not understand why the cost of his insulin increased almost 1000%. This week he has a bill in his honor--Matt's Act," Rep. Fortenberry said.

"I appreciate Rep. Angie Craig who has been a great partner in developing this transformational legislation. We share a concern about the 30 million Americans who suffer from diabetes. Many see the costs of their lifesaving drugs go up and up and up. Patients skip their doses because they can't afford their insulin, and this can land them in the hospital. They deserve better.," Rep. Fortenberry added.

Rep. Craig is the lead sponsor of the bipartisan and bicameral Insulin Affordability Data Collection Act and a cosponsor of the Insulin Price Reduction Act.

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