Source: United States Senator for New Jersey Bob Menendez
NEWARK, N.J. – U.S. Senator Bob Menendez (D-N.J.), a senior member of the Senate Finance Committee that sets national health policy, today was joined by advocates and families of diabetes patients when he announced his co-sponsorship of legislation that would cap out-of-pocket costs for insulin at $35 per month. More than 37 million Americans, including nearly 10 percent of New Jerseyans, live with diabetes and for most patients, monthly insulin costs can range between $200 and $600.
“Despite the historic progress we made with the Affordable Care Act, everyone recognizes that health care costs in America are still far too high. Perhaps no one understands that more than families and individuals living with diabetes who struggle to afford their monthly insulin and diabetic supplies,” said Sen. Menendez. “Unfortunately, for many New Jerseyans, the cost of insulin, which helps keep their diabetes under control, is simply not affordable. The Affordable Insulin Now Act is one important step in addressing the soaring costs of health care that squeeze our working families.”
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The Affordable Insulin Now Act, led in the Senate by Sen. Reverend Raphael Warnock (D-Ga.), would require private group or individual plans to cover one of each insulin dosage form (vial, pen) and insulin type (rapid-acting, short-acting, intermediate-acting, and long-acting) for no more than $35 per month. Medicare Part D plans, both stand-alone drug plans and Medicare Advantage drug plans, would be required to charge no more than $35 for whichever insulin products they cover in 2023 and 2024, and for all insulin products beginning in 2025.
According to a 2020 report, 645,000 New Jerseyans have diagnosed diabetes and an additional 207,000 are living with undiagnosed diabetes. 2.3 million New Jerseyans are considered prediabetic.
Diabetes is one of the top 10 leading causes of death in the United States. It is a complicated disease that can impact the whole body – from diabetic neuropathy, vision loss, and other complications it can be a vicious disease. According to the Centers for Disease Control and Prevention (CDC), diabetes costs an estimated $327 billion a year national in medical costs and lost productivity. Due to the high cost of insulin, the American Diabetes Association reports that one in four diabetic patients underuse or even skip insulin doses.
Sen. Menendez announced his support for this cost-cutting legislation at Newark Community Health Center in the city’s Ironbound neighborhood and was joined by a representative from Congressman Donald Payne, Jr.’s office, two moms who have children with Type 1 diabetes and a college student who lives with Type 1 diabetes.
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“As a diabetic, I understand the problems with high insulin prices firsthand,” said Rep. Payne. “We must do everything we can to lower them for the 37 million Americans with diabetes. That is why I fought hard to pass the Elijah E. Cummings Lower Drug Costs Now Act to let federal officials negotiate with drug companies to lower prescription drug prices and the Build Back Better Act to cap insulin prices at no more than $35 per month. I support the Affordable Insulin Now Act because it would create the same $35 per month cap on insulin prices. I thank Senator Menendez for creating more awareness of this critical legislation.”
Lisa Clarke, of Cedar Knolls, N.J., is the mom of ten-year-old Connor who was diagnosed with Type 1 diabetes in 2013. Since then, Lisa has been a volunteer with Juvenile Diabetes Research Foundation (JRDF) and has made it her personal mission to advocate for greater governmental support for Type 1 diabetes research and therapies.
“No one should suffer because they cannot afford the medication that keeps them alive. High insulin prices have devastating effects, and as the mother of a child with Type 1 Diabetes, our family has experienced the financial burden that accompanies this disease,” said Clarke. “A monthly insulin cap of $35 would improve access to this life-saving medication and help millions of Americans.”
College Sophomore Arianna Gehan was diagnosed with Type 1 diabetes at age 11. Since her diagnosis, she’s been an active advocate within the diabetes community. She currently attends Stevens Institute of Technology and is studying biomedical engineering.
“When insulin was first discovered, the researchers sold the patent for only $1 so it could be affordable to everyone. It is sad that today so many people are unable to access insulin because prices are unnecessarily and unethically high,” said Gehan. “I am grateful for Senator Menendez and Senator Booker’s continued support of the diabetic community.”
Kim McCoy, who resides in Middlesex, N.J., has a seven-year-old son who lives with Type 1 diabetes. Her son, Payton, requires approximately three vials of insulin per month. Kim fears for Payton’s future and worries about he’ll afford his insulin as he gets older.
“Currently in First Grade, Payton requires three vials of insulin per month. That’s a retail price of $974.89,” said McCoy. “A person with Type 1 diabetes must take insulin every single day or they will die. There’s no lifestyle change that will change this. If rising drug costs are not addressed now, what will these costs be when my son is in high school?”
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