The Sinema-backed bill is part of the affordable prescription drug package the Senator negotiated last year
WASHINGTON – Arizona senior Senator Kyrsten Sinema cosponsored the Affordable Insulin Now Act, legislation lowering the cost of insulin by capping Arizonans’ out-of-pocket costs for insulin at $35 a month.
“We’re lowering the cost of a critical prescription drug by capping Arizonans’ insulin cost at $35 dollars a month. We’ll keep working to advance commonsense solutions increasing Arizona families’ and seniors’ access to affordable health care and medicines,” said Sinema.
According to the American Diabetes Association, nearly 600,000 Arizonans have been diagnosed with diabetes and 164,000 Arizonans are living with undiagnosed diabetes. For people with diabetes, their medical expenses are approximately 2.3 times higher than people without diabetes, with many families paying hundreds of dollars every month for life-sustaining insulin medications.
The Affordable Insulin Now Act, impactful legislation capping insulin costs at $35 a month, applies to both Medicare and private plans, helping ensure Arizonans living with diabetes can afford insulin. This bill is part of the prescription drug package Sinema negotiated last year.
Under the Sinema-backed Affordable Insulin Now Act, private group or individual plans would be required to cover one of each insulin dosage from (vial or pen) and insulin type (rapid-acting, short-acting, intermediate-acting, and long-acting) for no more than $35 a month.
Medicare D plans and Medicare Advantage drug plans would be required to charge no more than $35 for whichever insulin products they cover in 2023 and 2024, and for all insulin products beginning in 2025. If signed into law, the legislation’s provisions would become effective beginning October 1, 2022 for Medicare plans and January 1, 2023 for private health plans.