Rep. Stansbury Votes to Cap Insulin Costs for New Mexicans at $35
The Affordable Insulin Now Act will ensure affordable access to live-saving medication for over 37 million people in the United States living with diabetes
WASHINGTON – Today, Rep. Melanie Stansbury (N.M.-01) voted to pass critical legislation to cap the costs of insulin at $35 nationwide. Her vote to pass the Affordable Insulin Now Act marks the second time that Rep. Stansbury has voted to cap insulin for New Mexicans after helping pass New Mexico’s $25 monthly cap on insulin copays in March 2020.
New Mexico’s insulin cap leads the nation as the lowest cap on monthly insulin copays, but has not extended to the over 312,000 New Mexicans enrolled in Medicare Part D. Rep. Stansbury’s vote today delivers critical cost savings to New Mexicans with diabetes enrolled in Medicare Part D.
“It’s time for the rest of the country to join New Mexico in capping the cost of insulin,” said Rep. Stansbury. “No one should have to choose between life-saving medication and putting food on the table. New Mexico has the lowest insulin cap in the nation, which I was proud to support in Legislature and today, I’m proud to vote to pass The Affordable Insulin Now Act to cap insulin costs nationwide. But our work is not done. The fight to reduce the cost of prescription drugs continues until our communities have access to the care they need.”
In recent years, insulin costs have skyrocketed by an average of 54 percent, leading to life-or-death decisions for Americans across the country who already pay more than 10 times the price of insulin compared to similar countries—costing an average of $98 per unit in the United States compared to an average of $8.80 in OECD countries. The Affordable Insulin Now Act requires Medicare Part D and commercial health insurance plans to cover insulin and cap cost-sharing at $35 per month. Half of individuals with private insurance would save at least $19 per month, with a quarter of Americans saving at least $42 per month. Individuals who buy their own insurance will experience the most savings.
The legislation is supported by a number of drug-pricing advocates, including the American Diabetes Association, JDRF, Social Security Works, and Protect our Care.
Beginning in 2023, the bill requires private health plans to cover at least one type and dosage form of insulin and caps cost-sharing for a 30-day supply at the lesser of $35 or 25 percent of a plan’s negotiated price, whichever is lower. The bill also requires all Medicare prescription drug plans to cap cost-sharing for insulin at no more than $35.