March 30, 2022
WASHINGTON, D.C. — Today, Rep. Scott Peters (CA-52) joined his colleagues in the U.S. House of Representatives to pass the Affordable Insulin Now Act, which he co-sponsored. The bill caps out-of-pocket costs for insulin at no more than $35 per month in Medicare Part D and commercial health insurance. Modeled after similar provisions that Rep. Peters negotiated to lower drug costs in the Build Back Better Act, this bill ensures vital and affordable access to life-saving medication for more than 37 million people in the United States who have diabetes.
“This $35-per-month insulin cap was a piece of the plan I worked on last year to improve access to quality prescription drugs. Today’s action will alleviate the tremendous burden faced by families and individuals who have struggled to pay expensive fees for insulin each month but rely on this medicine to maintain their health and well-being,” said Rep. Peters. “However, more can and must be done to lower drug costs across the board. Our deal last year proves there’s a lot of common interest in ensuring people across the country can get their prescription drugs for less. Passing this individual bill is a great first step that will offer relief to millions of Americans, and I’ll continue to push for my comprehensive plan to reduce all costs at the pharmacy counter.”
Beginning in 2023, the Affordable Insulin Now Act would require private health plans to cover at least one of each type and dosage form of insulin and cap cost-sharing for a 30-day supply at the lesser of $35 or 25 percent of a plan’s negotiated price. The bill also would require all Medicare prescription drug plans to cap cost-sharing for insulin at no more than $35. Half of individuals with private insurance would save at least $19 per month, and a quarter would save at least $42 per month. Individuals who buy their own insurance will experience the most savings.