Democrats look to cap insulin price at $20 per vial
While the Inflation Reduction Act capped seniors’ out-of-pocket spending on insulin to $35 per month, Senate Health Committee Chair Bernie Sanders (D-VT) introduced a bill today, alongside a companion bill in the House, to go one step further and set the price of insulin (not just what people pay at the pharmacy) at $20 per vial.
The Democrats’ return to pushing insulin prices lower follows their success in the IRA, and Eli Lilly’s move earlier this month, which was largely meant to avoid big Medicaid rebates later this summer, to reduce the price of its most commonly used insulin by 70%, and cap out-of-pocket costs for all those on commercial insurance at $35 per month.
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