Insulin Access Programs and Excise Tax on Excessive Price Spikes.
This Act establishes state and tribal grant programs to provide free emergency insulin access to uninsured and underinsured individuals using special insulin cards. It introduces a new excise tax on insulin manufacturers whose price increases exceed the rate of inflation, aiming to curb excessive drug pricing and ensure affordability. Furthermore, it shortens the market exclusivity period for new insulin products to encourage competition.
Key points
Free Insulin Access: Uninsured and underinsured individuals can receive an insulin card providing up to a 90-day supply of insulin at no cost.
Curbing Price Spikes: Manufacturers face a new excise tax (up to 100% of excess revenue) if they raise insulin prices above the inflation rate.
Deductible Relief: Payments made by assistance programs for insulin must count toward the deductibles and out-of-pocket maximums for individuals enrolled in high-deductible health plans.
Faster Generics: Market exclusivity for new biological insulin products is reduced from 12 years to 7 years to promote the entry of cheaper biosimilars.
Expired
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