Durbin Joins Introduction Of New Bill To Cap Costs Of Insulin Nationwide
WASHINGTON – Today, U.S. Senate Majority Whip Dick Durbin (D-IL) joined U.S. Senator Reverend Raphael Warnock (D-GA) in introducing new legislation to cap the out-of-pocket cost of insulin. The Affordable Insulin Now Act will require Medicare plans and private group or individual health insurance plans to cap patients’ out-of-pocket costs for insulin at $35 per month. This will dramatically reduce costs for millions of patients with diabetes and save money for hardworking Americans. According to one estimate , patients with diabetes spend close to $6,000 annually on insulin alone—despite insulin being discovered more than 100 years ago and its patent being sold for $1. The three most popular forms of insulin today have had their prices increased dozens of times to more than $300 per vial, despite being sold for a fraction of the price in Canada and Europe. “It’s unconscionable that Illinoisans are forced to ration their supply of life-saving insuli