Lower Insulin Costs for Seniors in Medicare Program
This bill aims to reduce insulin costs for individuals enrolled in the Medicare program. It ensures that a significant portion of the discounts negotiated by insurance plans with drug manufacturers will be passed directly to patients at the point of sale. This means seniors and disabled individuals who rely on insulin will pay less out-of-pocket.
Key points
Starting in 2022, at least 50% of insulin discounts will be passed to Medicare patients at the point of sale.
Starting in 2023, at least 75% of discounts will be passed to patients.
From 2024 onwards, 100% of insulin discounts will be passed to Medicare patients, leading to lower prices directly at the pharmacy.
The government will monitor the impact of these changes on insulin prices and patient out-of-pocket costs.
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