A 2020 government report on insulin prices found that in 2018, the average cost of a standard unit of insulin was $8.81 in 32 wealthy democratic counties. In the United States, a standard unit of insulin cost $98.70, on average.
On Friday, U.S. Sen. Katie Britt said she was joining an effort to curb those prices by backing two bills that could collectively cap insulin prices to $35 per month and promote the development of more diabetic treatments to enter the market.
The first bill is the Affordable Insulin Now Act, which would not only require both private and individual health care plans to cap insulin costs at $35 per month, but allow for uninsured Americans to purchase a 30-day supply of insulin for no more than $35, made possible by the establishment of a new program that would reimburse providers with the difference.
The second bill, the INSULIN Act, would promote the development of more diabetic treatment drugs by establishing a new expedited FDA approval pathway for diabetes treatment drugs. The bill would also waive deductibles for insulin and limit cost-sharing to no more than $35, or 25% of list price per month.
About 568,000 people in Alabama – almost 12% of the population – have been diagnosed with diabetes, with direct medical expenses related to diabetes in the state totaling $4.2 billion a year. These statistics were shared this week by Britt during a hearing of the Senate Committee on Appropriations, where the senator noted the struggle hundreds of thousands of her constituents go through on a daily basis related to diabetes.
“For many, insulin is essential for their long-term health and survival; Alabamians should not have to make the unthinkable choice about whether to purchase life-saving insulin or another basic necessity like food simply due to the drug’s prohibitive cost,” she said.
“Additionally, these pieces of legislation would help support our healthcare system by increasing access to insulin for diabetic Alabamians, keeping them healthy so they do not require more costly treatments and extensive medical care down the road. I’ll continue to fight to ensure that every Alabamian, no matter their zip code, can live the American Dream.”
In addition to making life-saving drugs more accessible to Americans, Britt argued the two bills would ultimately be a net positive in terms of cost, with medical costs and lost work attributable to untreated diabetic symptoms totaling $327 billion annually.
Capping insulin prices is also supported overwhelmingly by a majority of both Democrats and Republicans, with 84% of Americans supporting placing a $35 monthly cap on insulin. Nevertheless, insulin prices have continued to climb for decades, with the pharmaceutical industry being the single-largest lobbying force in the nation, spending $373 million in lobbying efforts in 2022.
Given the enormous profits from insulin drugs, with $1 out of every $4 spent on health care in the United States being related to diabetes, pharmaceutical companies have ramped up their lobbying efforts in recent months as lawmakers consider clamping down on skyrocketing prices.
Last year, Senate Republicans voted down an effort to cap private-insurance insulin costs at $35 a month.