A woman who has had type 1 diabetes since her teenage years demonstrates her insulin for injection on March 2, 2023 in New York City.
Spencer Platt | Getty Images
the president Joe Biden The federal budget proposal would cap insulin prices at $35 a month for people with private insurance plans.
The Inflation Reduction Act capped monthly insulin costs at that price for seniors in January, but excluded anyone who wasn’t on Medicare. Biden urged Congress in his State of the Union speech finish the job and limit insulin to $35 a month for everyone.
junkie Eli Lilly ahead of a potential federal mandate by announcing earlier this month that he limit insulin at $35 per month for people with private insurance in some retail pharmacies. But CEO David Ricks said in a statement that seven out of 10 Americans don’t use Lilly’s insulin. He called on federal politicians and employers to help make the cost of injections more affordable.
More on Biden’s Fiscal Year 2024 Budget Plan:
Biden praised Lilly’s decision and urged other manufacturers to follow suit. He also reiterated his call to Congress to lower the price of insulin for everyone else.
According to the American Diabetes Association, about 40% of people with diabetes have private insurance, while 5% are uninsured.
Some Republicans in Congress oppose capping the price of insulin. Rep. Kathy Rogers, who chairs the House Energy and Commerce Committee, called the Biden administration’s efforts to lower insulin prices “socialist” and “federal regulations” that hurt market competition.
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