Duluth, GA — Today, Rep. Lucy McBath’s law capping insulin at $35 a month goes into effect for seniors on Medicare Part B. McBath’s bill will lower health care costs for millions of Americans and help make the drugs more affordable for the Georgians who need it.
“Insulin is now $35 a month for our seniors on Medicare Part B. The costs of this medicine have been far too high for far too long,” said McBath. “And with the signing of my bill last year, I am so proud that this insulin pricing protection will be extended to seniors receiving outpatient care under Medicare.”
Since Rep. McBath introduced this measure, Eli Lilly, Novo Nordisk, and Sanofi—three companies that control 90% of the U.S. insulin market—have cut the cost of insulin to $35 a month. 40 million Americans live with diabetes, and 1 in 4 diabetic patients ration insulin doses due to its exorbitant costs. Rep. McBath’s $35 insulin price cap was passed with “The Inflation Reduction Act” (IRA), making a century-old drug more affordable for seniors who need it. Since January 1st, these pricing protections covered seniors under Medicare Part D but will now also be extended to Medicare Part B coverage. A U.S. Department of Health and Human Services report found that over $750 million in Medicare Part B and D costs would have been saved by beneficiaries had the insulin cap been in effect in 2020.