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Allred Leads Bipartisan Effort to Reduce Insulin Costs for North Texans

November 5, 2019

Washington, D.C. – Congressman Colin Allred (TX-32), today announced cosponsorship of the Insulin Price Reduction Act, a bipartisan bill that would reduce the price of insulin for millions of people.

"It's unacceptable that in our country, one in four people are rationing their insulin because of high cost," said Allred. "This bill would lower the cost of insulin by as much as 75 percent and help North Texans who are struggling to pay these high costs for the medicine they need to live. I'm glad to join the bipartisan effort, and fight to get this bill passed into law. The time for action is now to lower the costs of insulin and prescription drugs."

The bipartisan bill is sponsored by Congresswoman Diane Degette (D-CO-01) and Congressman Tom Reed (R-NY-23). A similar version of the bill was introduced recently in the Senate by U.S. Senators Tom Carper and Jeanne Shaheen.

Allred is fighting to pass the Lower Drug Costs Now Act, and has made protecting the Affordable Care Act and lowering the cost of health care across a priority in this Congress.

The Insulin Price Reduction Act would:

  • Reduce the list price of most insulin products by more than 75%.
    • The bill creates an incentive for drug makers to set the list price of their insulin products at, or below, the list price they were set at in 2006.
    • A move that would lower the list prices for some of the most popular insulin products by more than 75%.
  • Require Medicare and all private insurers to cover insulin with no deductible.
    • The bill requires Medicare and all private insurers to waive the deductible requirements for any insulin product that's been reduced to its 2006 price.
  • Protect drug makers who reduce their prices from the pressure of having to offer any additional rebates.
    • The bill would prohibit any drug maker that sets the price of their insulin products at, or below, its 2006 list price from offering any additional rebates to further lower the cost of that product for insurers.
    • Lowering the list price of insulin benefits consumers. It also allows drug makers who reduce their insulin products to their 2006 prices to sell their products without having to offer additional rebates, giving them an incentive to do so.
  • Prohibit insurers from refusing to cover any insulin product that's been priced at, or below, its 2006 list price.
    • Under the current system, insurers may refuse to cover a drug that doesn't come with a significant rebate to reduce the cost for them.
    • This power to deny coverage of a company's product has led many drug makers to increase the list price of their products in order to offer a larger rebate to insurers.

Read a copy of the bill here.