Senate panel advances legislation capping private insurance insulin at $35

Bipartisan legislation to cap the cost of insulin at $35 for people with private health insurance advanced through a key Senate committee Wednesday, but its future remains uncertain. 

The measure cleared the Senate Health, Education, Labor and Pensions Committee by a bipartisan 17-5 vote, with six Republicans joining every Democrat on the panel.  

Notably, committee Chair Bill Cassidy (R-La.) voted against it, arguing it created an unnecessary and duplicative government grant program.  

Cassidy noted many community health centers already provide deeply discounted insulin to patients who need it, and criticized the federal drug pricing program that he says hospitals are abusing.  

The private-market insulin cap was being pushed by Sen. Susan Collins (R-Maine), who is facing a tough reelection battle this fall. It’s unclear if Majority Leader John Thune (R-S.D.) will bring it to the floor, but the legislation would give Collins and others a win on affordability.  

“According to the American Diabetes Association, nearly 40 percent of people with diabetes have rationed or skipped insulin doses due to the cost. No one should be forced to go without the treatment they need to survive,” Collins said.   

The other primary co-sponsors were Sens. Jeanne Shaheen (D-N.H.), Raphael Warnock (D-Ga.) and John Kennedy (R-La.).  

In total, 28 co-sponsors are equally divided between the parties. 

A key measure in former President Biden’s 2022 Inflation Reduction Act capped insulin prices to $35 per month for seniors on Medicare. That measure passed without any GOP support. 

Since then, many pharmaceutical companies have voluntarily reduced their prices. Collins said she appreciates what drug companies have been doing, but those efforts aren’t enough. 

“While recent decisions by manufacturers to cut their list prices on insulin is encouraging, there is still more work to be done,” Collins said. “Our bill would cap the cost of insulin at $35 a month for individuals who are on commercial insurance plans.” 

The bill was introduced without a provision to include uninsured individuals in the price cap, but the committee approved an amendment to make the price cap applicable regardless of insurance status.

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