Sen. Collins among senators aiming to lower insulin costs
WASHINGTON (WABI) - Sen. Susan Collins, R-Maine, is among a group of senators to introduce a bipartisan bill aiming to lower insulin costs.
The bill, also sponsored by New Hampshire’s Jeanne Shaheen, would create a program where patients receive protections on insulin products at reduced prices.
Insurance plans and pharmacy benefit managers would not be able to collect rebates on insulins that limit list price to the 2021 net prices for Medicare Part D or equivalent levels.
Such insulins would be eligible for measures like waiving deductibles and limiting co-pays to no more than $35 per month or 25% of the list price.
They say the bill also supports patient access by ensuring coverage, and that other requirements cannot limit beneficiary use.
”The drug market for insulin is clearly broken. No individual should have to go to such extraordinary and dangerous measures such as rationing in order to afford his or her insulin,” said Collins.
The American Diabetes Association has endorsed the “Improving Needed Safeguards for Users of Lifesaving Insulin Now Act,” also known as the “INSULIN Act.”
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