Rich Neal: “Americans pay too much for insulin. With the price hovering at three times what it was 15 years ago, this vital…”

“Americans pay too much for insulin. With the price hovering at three times what it was 15 years ago, this vital medication is not just expensive, it can be completely out of reach. Every day, the more than 37 million Americans living with diabetes must choose between the insulin they need to stay alive and other basic necessities. Just last week, I heard about this issue from a couple who live in my district. Both people have diabetes, but one is forgoing insulin for the time being due to cost. Last year alone, their prescription costs topped $10,000. This outrageous expense is unacceptable, particularly since Americans pay far more for insulin than patients in similar countries. In some cases, American patients pay as much as 10 times the price of their counterparts in other nations. Today's legislation finally rights this wrong. Capping the cost of insulin at $35 per month will put the medicine within reach for millions of Americans. And we do this responsibly, by delaying the prior administration's Rebate Rule. Bringing down the cost of insulin will also help to close health inequities that skyrocketing drug costs exacerbated. This is an important and welcome step in lowering the cost of prescription drugs in this country.…”