New Monthly $35 Insulin Cap Coming for Seniors in January
Rising prescription drug costs are a top concern for Americans from all walks of life. That’s why I supported the historic Inflation Reduction Act that President Biden recently signed into law. A major element of the law is a $35 per month out-of-pocket insulin cap for Medicare beneficiaries, which will soon start delivering much-needed relief to millions of seniors across the nation.
This week, I held a roundtable with seniors, advocates, and health care providers to discuss how this historic new benefit will lower costs and improve care for seniors in Washington state.
In 2020, over 58,000 Washington seniors on Medicare used insulin and spent an average of $675 annually on insulin —higher than the national average.
Capping insulin costs for Medicare beneficiaries will change the lives of millions of seniors who will no longer have to decide between purchasing this life-saving medication and putting food on the table.
The insulin cap will take effect in January 2023. We shouldn’t stop here. I will keep fighting to make insulin more affordable to every American who needs it.
Other elements of the law that start next year are free vaccines for seniors, including COVID and Shingles shots, and a rebate if drug companies raise prices more than inflation. The law also caps seniors’ overall out-of-pocket prescription drug costs at $2,000/month and gives Medicare the power to negotiate for cheaper drug prices.
As always, I am here to help you. If you need assistance at this difficult time, please don’t hesitate to contact my Kirkland office at (425) 485-0085 or delbene.house.gov. For more updates on what I’m doing for WA-01, you can follow me on social media at the links above.
Stay safe and stay healthy,