Insulin cap of $35 would only impact Medicare recipients

The original text contained provisions that would cap insulin prices for Medicare patients and privately insured patients, but the latter did not find sufficient support.

Over 37 million Americans have diabetes, a chronic disease that affects how your body converts food into energy. Many diabetics need insulin to survive, but the price of the drug in the United States is often high.

The Anti-Inflation Act of 2022, a recent law passed by Congress, includes the largest federal effort on climate change yet and aims to bring down the rising cost of goods while erasing the country’s debt. It also includes provisions to improve access to affordable health care.

on social media, some people claim that a provision was included in the bill to cap insulin prices for all Americans at $35 per month removed by Senate Republicans.

THE QUESTION

Will Anti-Inflation Law Limit Insulin Prices?

THE SOURCES

THE ANSWER

This requires context.

The Anti-Inflation Act only caps insulin prices for Medicare patients, not private insurers.

The original text of the bill included a provision that extended the $35 insulin cap to privately insured Americans. But it was struck from the bill by the Senate MP, forcing a separate vote on the provision that did not garner enough support from the GOP to pass.

WHAT WE FOUND

The Inflation Reduction Act of 2022 limits insulin prices to $35 a month for some Americans, but not all.

The bill package included a proposal to limit insulin costs for Medicare patients to $35 a month. According to the Centers for Medicare & Medicaid Services (CMS), more than 63 million Americans are enrolled in Medicare, and 1 in 3 Medicare patients have diabetes.

The original bill also included a provision that extended the $35 insulin cap to Americans who were privately insured. However, Senator Elizabeth MacDonough ruled that the private insurance portion of the cap did not meet strict budgetary rules.

To do this, the Senate had to vote on the inclusion of the upper limit for privately insured persons. It took them 60 votes to pass it and avoid a filibuster. Only 57 senators voted in favor and 43 Republicans against, so it was removed from the law. As a result, the Senate-passed version of the Inflation Reduction Act limits insulin prices to $35 per month for Medicare patients only.

Along with the insulin cap, the bill will also expand expanded federal tax credits to save millions of people an average of $800 a year in health insurance premiums in Affordable Care Act marketplaces and cap the amount of money people pay out on Medicare Part D – Prescription Drug Bag to $2,000 a year, according to CMS Administrator Chiquita Brooks-LaSure.

“With this bill, millions of Americans will see lower health care costs,” Health and Humanity Secretary Xavier Becerra said in an Aug. 7 statement. “Additionally, it will do something we’ve tried — and failed to do in Washington for decades — allow Medicare to negotiate a better prescription drug deal.” No one should be missing out on healthcare or a needed prescription because they can’t afford it.”

President Joe Biden is pushing for speedy passage of the bill in the House of Representatives when he briefly returns from summer recess on August 12.

The Associated Press contributed to this report.

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Alley Einstein

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