Kaine cosponsors bill to cap insulin costs
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U.S. Senator Tim Kaine (D-Virginia) is cosponsoring legislation that would cap the out-of-pocket cost of insulin in America. The new legislation titled the Affordable Insulin Now Act was introduced by Senator Reverend Raphael Warnock (D-Georgia) and would require Medicare plans, private groups and individual health care plans to cap the out-of-pocket cost for insulin at $35 per month.
Patients using insulin are currently paying as much as $900 a month.
Kaine, who is a member of the Health, Education, Labor, & Pensions Committee, said the bill has his full support.
“No one should have to choose between paying for their medication and keeping food on the table,” he said. “I’m proud to cosponsor legislation that would cap out-of-pocket costs of insulin and help working families make ends meet.”
From 2012 to 2016, insulin prices have doubled with the cost of a 40-day supply increasing from $344 to $666. The Affordable Insulin Now Act would require private or individual plans to cover one of each insulin dosage form and type for no more than $35 a month.
