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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2021 - 2022
Regular Session
MEMORANDUM
| Posted: | October 26, 2021 01:59 PM |
|---|---|
| From: | Senator Doug Mastriano and Sen. Daniel Laughlin |
| To: | All Senate members |
| Subject: | Affordable Insulin Act |
| In the near future, we plan to introduce a bill that that will cap the cost of insulin not to exceed $30 a month per individual. 1.4 million individuals in Pennsylvania, over 11% of the population, are currently diagnosed with diabetes. Additionally, 3.5 million Pennsylvanians have pre-diabetes. Every year, an estimated 89,000 individuals in Pennsylvania are newly diagnosed with this health condition. Individuals with diabetes have medical expenses approximately 2.3 times higher than those who do not. Total direct medical expenses for diagnosed diabetes in Pennsylvania were estimated at $9.3 billion in 2017. For far too long, large pharmaceutical companies have increased the price of insulin to unaffordable levels. According to a 2020 study from the RAND Corporation, insulin prices paid by U.S. consumers are likely to be four times higher than the average paid by consumers in other high-income nations. Over twenty states of varying political party leadership have taken action to enact laws to institute caps on insulin co-pays. Our bill will amend The Insurance Company Law of 1921 to state that a health insurance policy providing prescription coverage of insulin may not impose a copayment, coinsurance, or deductible of more than $30 per thirty-day supply of insulin. Our bill will also direct the Attorney General to investigate pricing of insulin in Pennsylvania to ensure that adequate pricing is achieved and determine if additional consumer protections are necessary. A report of the findings of the investigation will be made available to the General Assembly and the public no later than one year after enactment. Please join us in co-sponsoring this important legislation. |
Introduced as SB957
Memo Updated: October 26, 2021 02:01 PM