WASHINGTON, D.C. — U.S. Congressman Josh Gottheimer (NJ-5) voted to pass landmark bipartisan legislation he cosponsored to cap the price of insulin at $35 per month for Americans with diabetes.
The bipartisan Affordable Insulin Now Act will deliver lower insulin costs for families across North Jersey.
“Lowering prescription drug costs is a core pillar of my Affordability Agenda for Jersey,” Gottheimer said. “For the nearly ten percent of adults across the Fifth District who have diabetes, this critical bipartisan bill will cap the price of insulin at $35-a-month, saving North Jersey residents thousands of dollars every year. Those dollars saved will go directly back into the pockets of middle-class families, helping make life more affordable.”
Rising by 54% from 2014 to 2019, the cost of insulin has created an affordability crisis for the North Jersey residents living with diabetes. One in four Americans who rely on insulin has been forced to ration doses due to high prices, a last resort with potentially fatal consequences.
The bipartisan Affordable Insulin Now Act will require private health insurance plans to cover insulin, capping monthly cost-sharing to $35 or 25% of a plan’s negotiated price — whichever is lower. It will also require Medicare prescription drug plans to cap cost-sharing for insulin to $35 per month.
This bipartisan legislation is a part of Gottheimer’s work to help lower prescription drug prices for families across North Jersey.