As the following press release from Del. Lee Carter (D-Manassas) discusses, limits on insulin copays are something Virginia definitely needs to pass. Just yesterday, Sen. Mark Warner wrote, ‘There is no legitimate reason for drug companies to be jacking up the price of life-or-death medication that’s been around for almost 100 years. Congress should take action to stop this price-gouging.”
An example of the tragic outcome that can occur because insulin costs too much for a diabetic to afford is this recent story, in which a 27-year-old Type-1 diabetic from Berryville, Virginia “died after switching to over-the-counter insulin because he couldn’t afford insurance copays for his prescribed insulin,” which cost him “$1,200 a month while making only $16.50 per hour working at a dog kennel.” As Del. Lee Carter correctly puts it, “It’s unconscionable that – while these companies are raking in obscene profits – everyday folks are rationing their insulin, going without, and in the most tragic cases dying.” Time for Virginia’s elected officials to act.
Delegate Carter Calls for $30/Month Cap on Insulin Copays in Virginia
Manassas, VA – Today Delegate Lee Carter announced his intention to introduce legislation that caps all insurance co-payments on insulin at 30 dollars per month for Virginia residents.
This is in response to the egregious and immoral overpricing of this life-saving prescription drug.
From 2007 to 2017, the wholesale price of insulin has tripled, and the handful of pharmaceutical companies manufacturing insulin have reaped profits into the billions of dollars.
Though the U.S. market consists of about 15 percent of insulin users globally, reporting suggests about 50 percent of worldwide insulin revenues come from the United States.
According to the Centers for Disease Control and Prevention’s 2017 Diabetes Report Card,approximately 10% of Virginia adults have been diagnosed with diabetes and 7% have been diagnosed with prediabetes. Many of these individuals depend on insulin to stay alive.
“It’s unconscionable that – while these companies are raking in obscene profits – everyday folks are rationing their insulin, going without, and in the most tragic cases dying,” said Delegate Carter.
“A 30 dollars per month cap on co-payments for insulin could very well save lives. But in the end, we need a single-payer healthcare system in Virginia that prioritizes the health and wellbeing of the people over profits.”