Baldwin helped pass legislation to cap the cost of insulin for seniors at $35 per month, now working to address the cost for others
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) joined a bipartisan group of colleagues in supporting legislation to comprehensively address the skyrocketing costs of insulin and lower prices for Wisconsinites. The Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act of 2023 would remove barriers to care, limit out of pocket costs for patients, and make insulin more accessible for millions of Americans.
“Americans should not have to choose between putting food on the table and the lifesaving medications they need to stay healthy. This bill builds on the historic gains we’ve made in capping the cost of insulin for seniors by lowering the out-of-pocket costs for all Wisconsinites living with diabetes,” said Senator Baldwin. “I’m proud to work with Republicans and Democrats to lower the price of insulin and give families some much needed relief.”
A new report from the American Diabetes Association that shows the cost of diabetes in America, including the cost of insulin, continues to skyrocket for patients and the federal government. More than 37 million Americans live with diabetes, including over 400,000 Wisconsinites. The disease is one of the leading causes of death in the United States, claiming over 100,000 lives in 2021. It is also the most expensive chronic condition in the nation, costing Americans a combined total of $412.9 billion per year. The rising cost of insulin presents a barrier to care for a growing number of Americans living with diabetes; 1 in 4 individuals report reducing insulin use due to cost.
The INSULIN Act would directly address the root problems in the insulin market causing high list prices, while simultaneously extending vital patient protections, fostering competition, and broadening access to needed insulin products. Specifically, the INSULIN Act of 2023 would:
The legislation was led by U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME), and also co-sponsored by Senators Debbie Stabenow (D-MI), Katie Britt (R-AL), Jon Tester (D-MT), Tommy Tuberville (R-AL), Mark Kelly (D-AZ), Roger Wicker (R-MS), Jacky Rosen (D-NV), Lisa Murkowski (R-AK), Angus King (I-ME), Mike Braun (R-IN), and Chuck Grassley (R-IA).
Senator Baldwin has long advocated for holding big drug companies accountable and expanding access to affordable health care for Wisconsinites. Last year, she helped pass the Inflation Reduction Act, which for the first time allows Medicare to negotiate lower drug prices and caps the cost of insulin at $35-a-month for Medicare recipients. Earlier this year, Senator Baldwin’s bipartisan legislation requiring pharmaceutical companies to be transparent with their customers and explain to the public why they are raising drug prices on working families passed out of the Senate Health, Education, Labor and Pensions committee.
A full text of this legislation is available here.