The pharmaceutical industry is all too powerful in the US. Not only does it spend a lot of money contributing to policymakers’ political campaigns and lobbying them to ensure pharmaceutical companies keep their monopoly drug pricing power, they employ huge numbers of Americans. Not surprisingly, no one in Congress has proposed opening our borders to prescription drug imports–the easiest way to bring drug prices down quickly for everyone in the US. And, Senate Majority Leader Chuck Schumer can’t even make good on his promise to lower insulin copays for everyone in the US, reports Rachel Cohrs Zang for Stat News.
Two years ago, Senator Schumer announced to a crowd that he was going to ensure the Senate voted to limit insulin costs for every insured American to $35 a month. Since then, he has said it was a “high priority.” But, he has not yet acted.
Importantly, the Inflation Reduction Act does lower these costs for people with Medicare, but only for people with Medicare. Ideally, federal legislation would protect everyone from high drug costs, including people without health insurance. And, it would require the government to negotiate drug prices. Protecting insured Americans from high insulin costs is a toe in the door, at best, and still it would be a major feat for the Democrats.
Senator Schumer’s office was unwilling to speak to a reporter about why the Senator has not yet held a vote on legislation that would limit the cost of insulin for insured Americans. Notably half of states have laws limiting these costs. And, pharmaceutical companies have said that they are making it easier to qualify for their programs that help pay for insulin costs.
Better access to lower cost insulin for more Americans might explain Schumer’s reluctance to move forward with legislation to cover everyone, but it’s not a compelling reason. As recently as August 2022, one in seven diabetics were struggling to pay for their insulin. For sure, hundreds of thousands, if not millions, of Americans are still struggling to pay for insulin. More likely, Schumer doesn’t want to take on the opposing forces or propose legislation that undercuts other legislation to lower insulin costs that his fellow Senators are proposing.
Politically, Schumer has good reason to take on the insulin issue. Six states that the Democrats would like to win in November –Ohio, Pennsylvania, Michigan, Wisconsin, Nevada, and Arizona–do not provide residents with low-cost access to insulin. And, low-copay insulin could be a winning issue for the Democrats. Pharmaceutical companies don’t mind low copays as they would not affect insulin prices.
But, the forces opposing low-copay insulin are mighty. Republicans, for one. Patient advocates, for two, because Schumer’s proposal would not lower the cost of insulin, only make it more affordable, shifting costs, and not help people without health insurance.
Here’s more from Just Care:
- Biden brought down the price of insulin significantly; a Trump presidency could undo that
- Some Medicare prescription drug plans dropping insulin coverage
- One in seven diabetics struggle to pay for insulin
- 2024: Medicare Part D coverage and costs
- Case study: Costco saves one couple hundreds of dollars over Medicare Part D
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