Statement of Administration Policy: H.R. 6833 - Affordable Insulin Now Act
STATEMENT OF ADMINISTRATION POLICY
(Rep. Craig, D-MN, and 28 cosponsors)
The Administration supports passage of H.R. 6833, the Affordable Insulin Now Act, to cap the out-of-pocket cost for one month's supply of insulin at $35 or less. This legislation will help ensure that this life-saving medication is affordable for millions of Americans with diabetes who take insulin and their families.
Insulin was discovered nearly 100 years ago and costs less than $10 a vial to manufacture, yet there are still American families with insurance paying hundreds of dollars a vial. The Affordable Insulin Now Act would mean nearly all Americans with private health insurance or covered by Medicare do not have to spend thousands of dollars for this essential medication. American families deserve peace of mind knowing their insulin costs will not skyrocket when they or their loved ones change insurance, and no family should be forced to choose between buying insulin and putting food on the table or paying other bills. Combined with this Administration's efforts to ensure all Americans have access to quality, affordable health coverage, this bill will help combat the rapidly rising out-of-pocket cost of insulin and put money back in the hands of American families.
Additional reforms are needed to continue to lower the cost of prescription drugs. America pays more than any other developed country for prescription drugs, and as many as one in four Americans struggle to afford their prescription drugs. The Administration looks forward to working with Congress on additional legislation that will let Medicare negotiate the cost of prescription drugs, require rebates when prescription drug prices increase faster than inflation, establish an out-of-pocket cap in Medicare Part D, and implement other important changes to bring relief to struggling American patients and their families.
The Administration looks forward to working with Congress to enact this legislation and to reduce the cost of prescription drugs.
Joseph R. Biden, Statement of Administration Policy: H.R. 6833 - Affordable Insulin Now Act Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/357949