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Insulin price to drop to $ 35 / month according to agreement to lower prescription drug prices

Senate Majority Leader Schumer (D-NY) announced on Wednesday that the cost of insulin would fall to $ 35 a month under the Democrats’ agreement to lower prescription drug prices.

Democrats to lower insulin price to $ 35 / month

Video from Schumer:

Schumer said on the Senate floor:

For too many Americans, all that is needed is a sudden serious illness and you may find that you spend hundreds, if not thousands and thousands of dollars a year, just to afford things like insulin or much-needed cancer treatments. This is deeply unfair and completely un-American. Imagine the stress you can experience: someone — you or a loved one — is sick and you can not afford the medicine, and you see them, their condition is getting worse and worse. I can not think of things worse than that.

We took a big step forward yesterday to help alleviate that problem. For the first time ever, Medicare will be empowered to negotiate prices directly in Part B and Part D. It will reduce out-of-pocket drug spending for millions of patients every time they visit a pharmacy or a doctor.

Our agreement does other things as well. This will limit spending to $ 2,000 a year, ending the dilemma I just talked about where a life-changing diagnosis can mean thousands upon thousands of dollars in new expenses that an individual cannot afford.

This agreement will lower insulin prices so that Americans with diabetes do not pay more than $ 35 a month for their insulin. Let me repeat this, because it’s amazing how the cost of insulin has been so reasonable and skyrocketed over the last few years, with very little reasonable, justifiable explanation. This agreement will lower insulin prices so that Americans with diabetes do not pay more than $ 35 a month for their insulin.

And it will reform the pharmaceutical industry to stop price cuts and make sure our country’s drug pricing system benefits patients, not corporations.

Senate Democrats kick it in gear after a rough election night

Senate Democrats received a wake-up call on election night. Schumer also spoke in his comments about the need to get Build Back Better passed quickly. Reducing the cost of prescription drugs will give Democrats in the House and Senate something to push for, as Republicans will vote against Build Back Better in both chambers.

Lower prescription medication prices will save lives while reminding voters why they voted for the Democratic House and Senate majorities in 2020.

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