NEW YORK, June 22, 2022 /PRNewswire/ -- JDRF, the leading global type 1 diabetes (T1D) research and advocacy organization, applauds the new proposed legislation announced by U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME). The legislation, named the Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act, was announced during a joint press conference which featured JDRF's Chief Mission Strategy Officer, Cynthia Rice.
"Right now, we have a broken system. People with diabetes can pay $300 or more for a vial of insulin, while others in the health system receive discounts of 70% or more," says Rice. "The INSULIN Act, being proposed today by Senators Shaheen and Collins, is a critical step forward for the diabetes community."
The INSULIN Act legislation caps monthly out-of-pocket costs at the lesser of $35 or 25% of the net insulin price, waives insulin from applying to the deductible for select commercial/ private insurance and Medicare Part D, and incentivizes manufacturers to lower list prices. In addition, under this new legislation, certified insulins will not be subject to methods health plans use that restrict access such as rebates, prior authorization, and other utilization management requirements.
"JDRF is tremendously grateful for Senators Jeanne Shaheen and Susan Collins for working tirelessly to find a bipartisan solution that would address the exorbitant cost of insulin and make this life-sustaining drug more affordable for those who need it. We are very pleased that the INSULIN Act includes several key provisions we have long been advocating for and are eager for the Senate to approve a finalized bill," said Aaron J. Kowalski, Ph.D, JDRF Chief Executive Officer.
The more than 1000% inflation in insulin costs over the span of twenty years has spawned a national crisis where individuals who depend on this life-saving drug have been forced to choose between their health and basic necessities like food and shelter. Since the onset of the crisis, JDRF has rallied together with the community to urge legislators, drug manufacturers, health plans, employers, and pharmacy benefit managers to correct the issues that impact insulin affordability, including partnering with other healthcare leaders to support the Civica Insulin Project, which will provide low cost, biosimilar insulin starting in 2024.
Learn more about JDRF's principles for Achieving Affordable Insulin and Promoting Innovation.
JDRF's mission is to accelerate life-changing breakthroughs to cure, prevent, and treat T1D and its complications. To accomplish this, JDRF has invested more than $2.5 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our five international affiliates are dedicated to advocacy, community engagement, and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter (@JDRF), Facebook (@myjdrf), and Instagram (@jdrfhq).
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