SYRACUSE, N.Y. — U.S. Senate Majority Leader Charles Schumer (D–N.Y.) said he wants to reduce the “outrageous” cost of insulin.
The Democrat announced he will call for a U.S. Senate vote in March to get the cost down from between $200 and $600 per prescription to a cap of $35.
He spoke Wednesday during a visit to the Joslin Diabetes Center at 3229 E Genesee St. in Syracuse. The Joslin Diabetes Center is an affiliate of Upstate Medical University. Both medical experts and Central New York residents with diabetes who need insulin daily joined Schumer for the late-morning event.
The price of insulin has been “rising rapidly” for years, with an average increase of 15 percent to 17 percent per year since 2012, the majority leader’s office said.
Schumer also noted that one in four Americans now ration the drug, which is “potentially life threatening.”
Schumer used the Syracuse stop to unveil his proposed Affordable Insulin Now Act, which he contends would improve access to the “life-saving” medicine and ensure that families will “never be forced to ration this critical drug due to unreasonably high cost.”
“The current cost of this life-saving drug runs from $300-$600 per prescription; it is not just ridiculous it’s dangerous. Millions of Americans and too many Central New York residents stand with me on this push to cap the cost of insulin at $35 so we can stop rationing this drug, and finally make insulin more affordable and accessible for all Americans,” the senator said.
Schumer explained that the Affordable Insulin Now Act would cap out-of-pocket costs of insulin products at $35 per month for people with private health plans and Medicare Part D plans, including Medicare Advantage drug plans.
The bill applies to one of each dosage form (i.e. vial, pump, inhaler) of each different type of insulin. Schumer said that the diabetes community and patient advocates have called for these policy changes for years and have worked to educate federal lawmakers and the public about the barriers people with diabetes face in accessing affordable insulin.
“Through decades of treating people with diabetes and working in diabetes research and education, I’ve seen a heartbreaking number of people in this community who can’t afford the insulin they need, risking debilitating complications and even mortality,” Dr. Ruth Weinstock, medical director of Joslin Diabetes Center at Upstate Medical University, said. “We know that one in four Americans with diabetes was forced to ration their insulin during the COVID-19 pandemic. This $35 out-of-pocket cap on insulin will save lives, prevent serious complications and hospitalizations as a result of diabetes and allow Americans living with diabetes to thrive.”