According to the American Diabetes Association, the inflation-adjusted cost of insulin increased 24% from 2017 to 2022. The expense leads many to ration their medication, which can have disastrous and even fatal consequences.
Thanks to 2022’s Inflation Reduction Act, the cost of insulin continues to decline. Biden’s legislation included limiting the cost of insulin for Medicare beneficiaries to $35 a month. More Americans with diabetes will now be able to affordably access life-sustaining insulin after the three largest manufacturers-Eli Lilly, Sanofi, and Novo Nordisk- instituted a $35 out-of-pocket cost cap for those with commercial insurance. Novo Nordisk has a monthly cap of $35 for eligible patients, including the uninsured, and a $99 cap for others, depending on individual insurance coverage. Eli Lilly offers a $35 monthly cap for those with commercial insurance, and a special savings card for those without.
These caps will prevent many deaths.