Eli Lilly limits insulin out-of-pocket costs to $35 a month

Update (15 March 2023): Pharmaceutical manufacturer Novo Nordisk announced The company offers up to 75% discounts on U.S. insulin products for diabetics. The changes he will take effect from 1 January 2024.

On March 1, pharmaceutical company Eli Lilly announced The company immediately capped the monthly out-of-pocket cost of insulin for people with commercial insurance at participating retail pharmacies to $35 a month. The company also said he would cut the price of the most commonly prescribed insulin later this year by 70%. Eli Lilly is one of his big three pharmaceutical companies that manufacture insulin.

The original story remains published below.

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more than 37 million Americans Diabetes, a chronic disease that affects how your body turns food into energy.Needed by many people with diabetes insulin to survive, but drug price In the US, it is often expensive.

of Inflation Control Act 2022The bill, recently passed by Congress and signed by President Joe Biden, contains the largest federal effort in history to combat climate change and aims to keep the cost of commodities from rising while paying off the nation’s debt. It also includes provisions to increase access to affordable health care.

on social media some people The bill’s provision limiting insulin prices to $35 a month for all Americans Removed by Senate Republicans.

Does the Inflation Reduction Act cap insulin prices?

The Inflation Reduction Act caps insulin prices for Medicare patients, not those with private insurance.

The original bill included provisions to extend the $35 insulin cap to Americans covered by private insurance. However, it was removed from the bill by senators, forcing another vote on a provision that failed to gain enough Republican support to pass.

of Inflation Control Act 2022 It caps insulin prices at $35 a month for some Americans, but not all.

Invoice package includes suggestion Put a $35 monthly cap on insulin costs for Medicare patients.is more than 63 million Americans are enrolled in Medicare and 1 in 3 Medicare patients are Diabetesaccording to the Centers for Medicare and Medicaid Services (CMS).

Also includes the original invoice Clause This extended the $35 insulin cap to Americans covered by private insurance. However, Senator Elizabeth McDonough ruled that the private insurance portion of Cap failed to comply. strict budget rules.

This required the Senate to vote to include a cap on people with private insurance. They passed it and needed 60 votes to avoid the filibuster, stripped from Congress because only 57 senators voted in favor and Republicans had 43 of his votes. SpecificationAs a result, the version of the Inflation Reduction Act passed by the Senate caps insulin prices at $35 a month for Medicare patients only.

In addition to increasing the insulin cap, the measure would also expand enhanced federal tax credits, helping millions save an average of $800 a year on health insurance premiums through the Affordable Care Act Marketplace and Medicare Part D patients. limits the amount paid by – Prescription pocket up to $2,000 per year I’m Chiquita Brooks-LaSure, a CMS administrator.

“With this bill, millions of Americans will see a reduction in health care costs,” Health and Human Services Secretary Xavier Becerra said. Statement of August 7“Additionally, we will realize what we have been trying and failing in Washington for decades, enabling Medicare to negotiate better deals for prescription drugs. You don’t have to live without good health care or prescriptions.”

President Joe Biden is urging swift passage of the bill through the House of Representatives when it temporarily returns from summer vacation on Aug. 12.

The Associated Press contributed to this report.