BATON ROUGE, La. (BRPROUD) — Senators John Kennedy (R-La.) and Ralphael Warnock (D-Ga.) introduced the bipartisan Affordable Insulin Now Act of 2023 to set a cap price on insulin for everyone.
Over 14% of Louisiana’s adult population has been diagnosed with diabetes and over 30% of adult Louisiana’s population is pre-diabetic, according to a news release from Kennedy.
The release said Louisiana spends about $5.7 billion a year on direct medical expenses for those diagnosed with diabetes. By making insulin affordable, the long-term cost of care for patients will decrease as more Americans are able to prevent complications, according to the release.
“While the world waits for a cure to diabetes, I am glad to join Sen. Warnock in offering a bipartisan solution to the rising cost of insulin for Louisianians and Americans living with diabetes. By making preventative care more accessible, this bill would reduce long-term health care costs for individual patients, avoid devastating complications from diabetes and take pressure off the entire health care system,” said Kennedy.
According to the Centers for Disease Control and Prevention (CDC), medical costs for people with diabetes total about $327 billion yearly.
The Affordable Insilin Now Act of 2023 would:
- require plans to cover one of each insulin dosage form and insulin type for under $35/month
- require the Secretary of Health and Human Services to establish a program to reimburse qualifying entities for covering costs over $35 for a 30-day supply
- be fully paid for by an offset which will be determined when the bill is voted on the floor
“I’ve long said that making insulin affordable for everyone should be bipartisan, and today we prove that’s not just talk. I’m thrilled to work with my colleague and friend, Senator Kennedy, to finally make insulin affordable for everyone who needs it. Insulin is a 100-year-old drug with a patent that was sold for $1. No one should feel forced to put their health or life in danger because they can’t afford their insulin. We have the momentum, let’s get this done,” said Warnock.
Read the full bill below.