Sen. Raphael Warnock introduces bill to cap cost of insulin
Type 1 diabetes, which is often diagnosed in children or young adults, is treated with insulin, and monitored by the testing of blood-sugar levels. The condition is caused by an abnormal immune reaction that destroys the insulin-producing cells of th
ATLANTA - U.S. Sen. Rev. Raphael Warnock has announced new legislation that aims to cap the out-of-pocket cost of insulin across the country.
The Georgia Democrat is proposing the Affordable Insulin Now Act, which would require Medicare plans and private group or individual plants to cap patient's costs for insulin products at $35 a month
According to estimates, diabetics currently spend around $6,000 a year for insulin alone. The Health Care Costs Institute says insulin prices nearly doubled from 2012 to 2016 - increasing to $666 for a 40-day supply of insulin.
"Too many Georgians have or know someone who has diabetes, and too many live with the burden of treating this chronic condition with critical insulin that’s costing them more and more," Warnock said in a statement. "At the same time, special corporate interests are seeing record profits, while everyday people are seeing record prices for drugs like insulin they need to live."
The senator says he has heard from thousands of Georgians about rising drug prices and hundreds about the rising cost of insulin specifically.
Warnock says he's working to push the legislation through a Senate committee and then to the Senate floor.