Saturday’s Daily Piece: Insulin Pricing Federal Legislation, Insulin Price Reduction Act

Currently, both U.S. House and Senate have legislative bills, Insulin Price Reduction Act, addressing insulin pricing head on, and it is a bipartisan bill in both the House and Senate.

Most recently, Insulin Price Reduction Act, was introduced into U.S. House of Representatives by Representatives Diana DeGette (CO) and Tom Reed (NY). The key points are listed below.

-Reduce the list price of most insulin products by more than 75%.

-Require Medicare and all private insurers to cover insulin with no deductibles.

-Protect pharmaceutical companies who reduce their prices from pressure of having to offer additional rebates.

-Prohibit insurers from refusing to cover any insulin product that’s been priced at, or below, its 2006 list price.

For additional information, please click on the links below.

https://degette.house.gov/media-center/press-releases/degette-unveils-new-bipartisan-legislation-to-cut-skyrocketing-cost-of

https://degette.house.gov/sites/degette.house.gov/files/DEGETT_043_xml.pdf

In the U.S. Senators, Senators Tom Carper (DE), Jeanne Shaheen (NH), Susan Collins (Maine) and Kevin Kramer (ND) introduced a similar bill, Insulin Reduction Price Bill.

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