Lawmakers Considering Cap on Monthly Price of Insulin

[Elderberry]

Texas Scorecard by Iris Poole April 6, 2021

If the legislation is passed, insulin copays will be capped at $50 per 30-day supply.

A proposal moving through the Texas Legislature could place a cap on the cost of insulin and insulin supplies.

On Tuesday, the Insurance Committee met to discuss House Bill 40, a bipartisan bill authored by State Rep. James Talarico (D–Round Rock) and co-authored by 101 other state representatives.

The hearing comes after companion legislation, Senate Bill 827 by State Sen. Lois Kolkhorst (R-Brenham), passed the chamber 27-3 last month.

The legislation has been gaining traction after more than a decade of insulin prices skyrocketing, and if passed, insulin copays will be capped at $50 per 30-day supply.

Talarico shared that he was diagnosed with diabetes in May 2018 at 28 years old, when he was on the campaign trail.

“Even with health insurance, I paid $684 for my first 30-day supply of insulin—the medicine I need to live,” Talarico shared. “I had to put it on a credit card.”

Talarico cited three major reasons why the cost of insulin is so high. Only three companies control the market, there is no generic alternative, and there is no competition due to patenting and “evergreening,” which extended the life of existing patents.

More: https://texasscorecard.com/state/lawmakers-considering-cap-on-monthly-price-of-insulin/