Courtney Votes To Lower Insulin Costs For Thousands Of Eastern Connecticut Workers And Families

Statement

Today, Congressman Joe Courtney (CT-02) voted to pass the Affordable Insulin Now Act (H.R. 6833), landmark legislation that would cap out-of-pocket costs for insulin at no more than $35 per month in Medicare Part D and commercial health insurance packages. Modeled after similar provisions in the Build Back Better Act, the Affordable Insulin Now Act would 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. In 2021, the American Diabetes Association reported that more than 275,000 people in Connecticut, or 9.6% of the adult population, have diagnosed diabetes.

"More than anything, I think most people want to see Congress focused on the serious issues that really make a difference in their lives--like making sure we're getting fair prices on prescription drugs, and that we're not getting price-gouged on absolutely necessary, lifesaving medication like insulin," said Rep. Courtney. "Insulin isn't an option for thousands of people in eastern Connecticut--they literally need it to survive, and right now Americans are paying much higher prices for the same insulin, made by the same manufacturers, than other countries are paying--and the prices are still rising. The State of Connecticut has already instituted a similar protection to guarantee affordable insulin for some residents, and the Affordable Insulin Now Act would expand similar savings to hundreds of thousands more in our state, and millions across the country. Americans deserve fair, affordable insulin prices--proud to help pass this bill."

Insulin is too expensive for millions of Americans

1 in 4 Americans who rely on insulin have cut back or skipped doses due to costs.
34% of families with children dependent on insulin have been impacted by rising insulin costs, including adverse health effects and increased stress and anxiety.
26% of Americans with diabetes ration their insulin at least once a year--putting themselves at grave health risk because of cost. In 2018, more than a dozen people died while rationing their insulin due to the high cost.

Insulin prices in the United States are much higher than other countries

Americans pay more than 10 times the price of insulin compared to other similar high-income countries
From 2014 to 2019, the average retail price of insulin rose by 54%.
Among those with private coverage, 1 in 5 people who take insulin have out-of-pocket costs of more than $35 per month. High cost-sharing is especially common in the individual and small group markets.
In a recent study, insulin out-of-pocket costs among all insulin users averaged $64 in 2017, almost double what the out-of-pocket costs would be with H.R. 6833.

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% 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.

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