Medicare patients grateful for insulin price cap, hope to see it expanded

Lake Charles, LA (KPLC) - The new cost of insulin could be beneficial for millions of Americans on Medicare, thanks to President Joe Biden’s historic Inflation Reduction Act.

As a senior with limited income, Deborah Simien said the lowered cost of insulin is a good start.

“Senior citizens they need their medications, especially us on fixed income, and it makes a big difference if they were to put them where everybody could get them without having to pay for it because some people can’t afford to pay $35,” she said.

Seniors on Medicare with diabetes may have noticed their insulin cost capped at $35 a month.

This new benefit went into effect at the beginning of year, allowing seniors to save hundreds of dollars.

“It’s very good that they’ve done this so that the people can afford medication and not have to decide, do I buy my medication this month or do I pay my gas bill or whatever,” senior Pam East said.

This week the largest manufacturer of insulin, Eli Lilly, has announced it will be lowering the cost of insulin by 70 percent in an effort to meet the call of the Inflation Reduction Act.

“Thirty-five dollars is more manageable than the price they had it before, hopefully that they can do across the board and have a price reduction for all diabetic medications,” East said.

Meanwhile, the president continues to call on Congress to “finish the job” and cap the cost of insulin at $35 for all Americans and not just those on Medicare.

“I pray to God that everybody will be able to get the insulin without having to pay anything. When it comes to medication, you shouldn’t have to sacrifice yourself for insulin to stay alive,” Simien said.

The latest report that was released by the Biden administration shows 12.9 percent of adults in Louisiana are diagnosed with diabetes.

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