A bill to reduce the price of insulin for patients.
Cap Insulin Prices Act
This bill reduces cost-sharing for insulin under private health insurance and the Medicare prescription drug benefit.
Specifically, the bill caps cost-sharing under private health insurance for a month's supply of selected insulin products at $25 or 25% of a plan's negotiated price (after any price concessions), whichever is less, beginning in 2024.
The bill caps cost-sharing under the Medicare prescription drug benefit for a month's supply insulin products at $25 beginning in 2024. The current cap on insulin products under Medicare is $35 per month.
Referred to the Subcommittee on Health.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
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