With this series we will bring you the latest news in insulin affordability. This week we cover federal drug pricing legislation and the Texas insulin price cap.
For more news in diabetes advocacy and policy, check out our compiled news updates here.
A group of policymakers are pushing back Speaker Nancy Pelosi’s legislation, HR3, to lower prescription drug prices. These policymakers sent a letter to Pelosi, citing concerns that the bill could hurt drug companies’ ability to develop new drugs. In the letter, they advocated for a more modest drug pricing measure. HR3 would allow the government to negotiate lower drug prices and cap prices based on prices paid in other countries.
Why it matters: A majority of adults support action to lower the price of prescription drugs. In addition, 26% of people with diabetes in the US rationed their insulin at least once in 2019 because it is too expensive. Policy aimed to lower drug prices would allow people with diabetes to get the medications they need without having to worry about the high costs.
The Texas State Legislature just passed a bill that will cap the out-of-pocket cost for each insulin prescription to $25 per month. The bill is headed to Governor Greg Abbott’s desk where it awaits his signature. If passed, the price cap would reduce insulin costs for insured Texans on state-regulated health plans.
Why it matters: 2.8 million Texans have diabetes, which is approximately 12% of its adult population. An insulin price cap will ensure that those on state-regulated health plans will be able to afford this life-saving medication. Texas also joins the growing list of states that have passed insulin price caps--13 states currently have such laws in effect and many other states have proposed legislation.