If you pay too much for your prescriptions, you’re not alone, especially if you or someone you care for has diabetes. One in four Americans with diabetes are forced to ration insulin due to how expensive this life-saving medication has become. No Floridian should have to choose between taking their medication, or paying their rent or putting food on the table. The U.S. House of Representatives just passed a bill with President Biden’s full-throated support, that would limit the cost of insulin under private insurance and Medicare.
The Affordable Insulin Care Act would cap insulin prices at $35 a month or 25% of the plan’s negotiated price. This significant decrease in cost could be life changing for millions of Floridians who are insulin dependent. Moreover, it will pave the way for lowering drug prices for prescription drugs beyond just insulin.
This critically needed legislation is currently stalled in the Senate. If the bill passes it could begin improving millions of lives as soon as 2023.
Drug companies have raised their prices on hundreds of prescriptions since the beginning of this year. Many of these medications treat HIV, breast cancer, and cystic fibrosis. The cost of insulin has tripled over the past decade to cost $400 to $500 per month. Yet it only costs $3 to $6 to make.
The pandemic has only made this worse. With Floridians struggling to keep up with skyrocketing rent and property insurance, those with diabetes face an even more dangerous battle; having to ration their insulin.
Rationing insulin could lead to serious health consequences like developing heart conditions or chronic kidney disease which require additional medication. No Floridian should have to ration a medication they need to survive.
Insulin will not be a “life-saving” medication if people can barely afford it to survive. Passing this bill will not only pave the way for lowering other prescription drug costs, but could save the lives of those who often have to ration this medication. We need affordable insulin NOW.