MADISONVILLE, La. – Sen. John Kennedy (R-La.) wrote this op-ed in the Washington Examiner urging his colleagues in Washington to join his effort to reduce federal spending on health care by capping the price of insulin. Kennedy explains how making insulin affordable will improve the overall health of Americans with diabetes. This care helps them avoid the costly hospital visits and health complications that often fall to the taxpayer to cover.
Earlier this year, Sen. Kennedy joined Sen. Raphael Warnock (D-Ga.) in introducing the Affordable Insulin Now Act of 2023, a bill which would ensure that all Americans, including those without insurance, have access to insulin that costs $35 per month or less.
Key excerpts of the op-ed are below:
“More than one in 10 Americans live with diabetes, and many of them cannot afford the insulin they need to stay out of the emergency room.
“For years now, Congress has nibbled around the edges of insulin affordability rather than addressing the issue directly. This failure to act results in needless suffering and financial stress for families living with diabetes, and it saddles the American taxpayer with billions of dollars in related healthcare spending.”
. . .
“The Centers for Disease Control and Prevention estimates that Americans spend $327 billion annually to cover healthcare expenses and lost wages related to diabetic care. Louisiana alone spends an estimated $5.7 billion on care related to diabetes each year.”
. . .
“This bill would ensure that all Americans, including those without insurance, have access to a 30-day supply of insulin that costs no more than $35.
“This plan isn’t one of Washington’s out-of-control spending policies. Any costs associated with capping insulin prices will be fully offset by cutting spending elsewhere in our $6 trillion annual federal budget. More importantly, improving access to affordable insulin can lower federal healthcare spending overall. That means we’re taking a big burden off both diabetics and taxpayers.”
. . .
“We cap the price of insulin at $35 per month today, and we can save thousands of dollars—if not tens of thousands of dollars—per patient in avoided hospital expenses. You don’t need to work on Wall Street to appreciate this return on investment.
“Without adding a penny to the federal budget, Congress can make it affordable for every American to get the insulin they need to stay healthy, go to work, care for their children, contribute to the economy and their community, and avoid costly emergency room visits that end up costing American taxpayers.”
Read the full op-ed here.