House measure would lower the cost of insulin
The House Insulin Price Reduction Act (H.R. 4906) would help reduce drug costs, specifically insulin, for diabetics across the country.
“It is unacceptable that diabetics in this country are forced to ration or go without insulin due to financial barriers,” said Congresswoman Elaine Luria, D-Va., who announced her support for the measure last week. “The Insulin Price Reduction Act is a necessary step to provide support to Coastal Virginians with pre-existing health conditions who require insulin to lead healthy and productive lives.”
This bill would incentivize insulin manufacturers to lower the current listed price of their insulin products, from its current $300 a vial rate to the 2006 price, which was approximately $68 a vial. In exchange, drug makers would be prohibited from having to offer additional rebates to insurers in order to have their products covered.
The legislation is supported by the American Diabetes Association, which advocates for the 7.4 million Americans who consider insulin to be a life-sustaining medication for which there is no substitute.